The transactions of Spade Company appear below.
a. Kacy Spade, owner, invested $13,500 cash in the company in exchange for common stock.
b. The company purchased office supplies for $392 cash.
c. The company purchased $7,466 of office equipment on credit.
d. The company received $1,593 cash as fees for services provided to a customer.
The company paid $7,466 cash to settle the payable for the office equipment purchased in transaction c.
f. The company billed a customer $2,862 as fees for services provided.
g. The company paid $525 cash for the monthly rent.
h. The company collected $1,202 cash as partial payment for the account receivable created in transaction 1.
i. The company paid $800 cash in dividends to the owner (sole shareholder).
Required:
Prepare general journal entries to record the transactions below for Spade Company by using the following accounts: Cash: Accounts Receivable: Office Supplies; Office Equipment: Accounts Payable: Common Stock: Dividends: Fees Earned; and Rent Expense. Use letters beside each transaction to identify entries.