The following information pertains to Alan Marshall's personal financial transactions.

Opening Balances - September 1, 2019
Cash	$12,100
Contents of Home	$1,000
Automobile	$20,100
House	$154,100
Unpaid Accounts	$5,300
Bank Loan	$44,400

Transactions for the month of September 2019.

1.	Paid maintenance for the month of September with $800 cash.
2.	Purchased new jewelry worth $2,500 with cash.
3.	Paid credit card liability of $5,100.
4.	Paid for travel for September with $800 cash.
5.	Purchased $2,100 of groceries and goods for personal consumption with cash.
6.	Deposited $4,300 salary earned during the month.

Required

a) Using the information provided, record the opening balances in the T-accounts.
b) Record the transactions for the month of September in the T-accounts.

Answer rating: 100% (QA)

ANSWER A Accountants examine these transactions and record them in the accounts which these transactions affect As the first step of recording account... View the full answer