Question

Prepare Journal entries

Paid rent for two months in advance, $500

Purchase office supplies for $200 and office equipment for $1,100 on account

Billed a customer for fees earned, $2,000

Paid telephone bill, $150

Owner withdrew $475 from the business for personal use

Received $600 for fees earned

Paid salaries expense, $800

Answer 1

Journal entries
ACCOUNT TITLES AND EXPLANATIONS	DEBIT ($)	CREDIT ($)
Prepaid Rent Account	500.00
To Cash Account		500.00
(Paid rent for two months in advance)
Supplies on hand Account	200.00
To Accounts Payable Account		200.00
(Purchase of office supplies)
Office Equipment Account	1,100.00
To Cash Account		1,100.00
(Purchase of office Equipment)
Accounts Receivable Account	2,000.00
To Fees Revenue Account		2,000.00
(Billed a customer for fees earned)
Telephone expenses Account	150.00
To Cash Account		150.00
(Paid telephone bill)
Drawings Account	475.00
To goods withdrawn by proprietor Account		475.00
(Owner withdrew from the business for personal use)
Cash Account	600.00
To Fees Earned Account		600.00
(Cash Received for fees earned)
Salaries Expense	800.00
To Cash Account		800.00
(Paid salaries expense)