Question

On October 1, 2019, Helen Kennedy opened an advertising agency. DATE TRANSACTIONS Oct. 1 Helen Kennedy invested $62,000 cash in the business 2 Paid 0ctober office rent of $3,100; issued Check 1001 5 Purchased desks and other office furniture for $13, 800 from Office Furniture Mart, Inc.; received Invoice 6704 payable in 60 days 6 Issued Check 1002 for $3,300 to purchase art equipment. 7 Purchased supplies for $1, 650; paid with Ccheck 100:3 10 Issued Check 1004 for $480 for office cleaning service 12 Performed services for $4,200 in cash and $2,000 on credit. (Use a compound entry.) 15 Returned damaged supplies for a cash refund of $280 18 Purchased a computer for $3,100 from Office Furniture Mart,Inc., Invoice 7108; issued Check 1005 for a $1,800 down payment, with the balance payable in 30 days. (Use one compound entry.) 20 Issued Check 1006 for $6,900 to Office Furniture Mart, Inc., as payment on account for Invoice 6704 26 Performed services for $4,500 on credit. 27 Paid $265 for monthly telephone bill; issued Check 1007 30 Received $3,800 in cash from credit customers 30 Mailed Check 1008 to pay the monthly utility bill of $340. 30 Issued Checks 1009-1011 for $8,100 for salaries

Answer 1

01-Oct	Cash	62000
	Helen's Kennedy Capital		62000
02-Oct	Rent expense	3100
	Cash		3100
05-Oct	Office furniture	13800
	Accounts payable		13800
06-Oct	Art equipment	3300
	Cash		3300
07-Oct	Supplies	1650
	Cash		1650
10-Oct	Office cleaning supplies	480
	Cash		480
12-Oct	Cash	4200
	Accounts receivable	2000
	Service revenue		6200
15-Oct	Cash	280
	Supplies		280
18-Oct	Office furniture	3100
	Cash		1800
	Accounts payable		1300
20-Oct	Accounts payable	6900
	Cash		6900
26-Oct	Accounts receivable	4500
	Service revenue		4500
27-Oct	telephone expense	265
	Cash		265
30-Oct	Cash	3800
	Accounts receivable		3800
30-Oct	Utility expense	340
	Cash		340
30-Oct	Salaries expense	8100
	Cash		8100