Question

1. Nick Bowman invested cash of $12,000 in the business. 2. Received and paid utility bill of $125. 3. Bought $300 of supplies on account. 4. Sold services worth $2,500 to customers on account. 5. Received cash payment of $800 from credit customers.

Answer 1

1. Cash :-

Particular	Amount ($)	Particulars	Credit ($)
Owners capital	12000	utilities	125
Account receivable	800
	12800
Balance	12675

2. Acount receivable :-

Particulars	Amount ($)	Particulars	Amount ($)
Revenue	2500	cash	800
Balance	1700

3. Supplies :-

Particulars	Amount ($)	Particulars	Amount ($)
Account payable	300

4. Account payable

Particulars	amount ($)	particulars	amount ($)
		Supplies	300

5. Owners capital

Particulars	amount ($)	particulars	Amount ($)
		Cash	12000

6. Utilities expense :-

Particulars	amount ($)	particulars	Amount ($)
Cash	125

7. Revenue :-

Particulars	amount ($)	particular	amount ($)
		Account receivable	300

these are all the information required to solve the above given question.

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