Examine the following transactions and identify those that create expenses for Valdez Services. Use T- ccounts to record the transactions that create expenses. Explain why the other transactions did not create expenses.
a. Paid $12,200 cash for office supplies that were purchased on account more than 1 year ago.
b. Paid $1,233 cash for the receptionist’s salary for the two weeks just completed.
c. Paid $39,200 cash for equipment.
d. Paid $870 cash for this month’s utilities.
e. Owner (B. Valdez) withdrew $4,500 cash for personal use.
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