QUESTION 3 Use the following information to prepare the general journal entries for the month of...

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QUESTION 3 Use the following information to prepare the general journal entries for the month of September 2023. Narrations are not required. 1st Lee opened her hair salon business by contributing $20,000 to the business back account. 3rd Lee purchased supplies and paid $3,500 by electronic transfer. 4th Lee's first customer paid $125 for hair shampoo and blow dry. 5th Paid adverting of $300 in local newspaper. 6th Customers paid a total of $950 for hair services. 7th Two customers had hair treatment on credit totalling $235. 8th To date Lee has used $370 of hair supplies originally purchased on 3rd September. 12th Received $135 from credit customers on the 7th September. 15th Electricity bill $140, water bill $320 and cleaning services $90 have been recived but not yet paid. 18th Purchased equipment costing $2,100 with a $500 deposit and the remainder on credit from Salon Wholesalers. 25th Lee withdrew $500 for personal use. QUESTION 3 Use the following information to prepare the general journal entries for the month of September 2023. Narrations are not required. 1st Lee opened her hair salon business by contributing $20,000 to the business back account. 3rd Lee purchased supplies and paid $3,500 by electronic transfer. 4th Lee's first customer paid $125 for hair shampoo and blow dry. 5th Paid adverting of $300 in local newspaper. 6th Customers paid a total of $950 for hair services. 7th Two customers had hair treatment on credit totalling $235. 8th To date Lee has used $370 of hair supplies originally purchased on 3rd September. 12th Received $135 from credit customers on the 7th September. 15th Electricity bill $140, water bill $320 and cleaning services $90 have been recived but not yet paid. 18th Purchased equipment costing $2,100 with a $500 deposit and the remainder on credit from Salon Wholesalers. 25th Lee withdrew $500 for personal use.

Answer rating: 100% (QA)

Based on the provided information here are the general journal entries for Lees hair salon business ... View the full answer