The transactions of Spade Company appear below. a. K. Spade, owner, invested $16,500 cash in the company. b. The company purchased supplies for $479 cash. c. The company purchased $9,125 of equipment on credit. d. The company received $1,947 cash for services provided to a customer. e. The company paid $9,125 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,498 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,469 cash as partial payment for the account receivable created in transaction f. 1. K. Spade withdrew $900 cash from the company for personal use. quired: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated.
The transactions of Spade Company appear below. a. K. Spade, owner, invested $16,500 cash in the company. b. The company purchased supplies for $479 cash. c. The company purchased $9,125 of equipment on credit. d. The company received $1,947 cash for services provided to a customer. e. The company paid $9,125 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $3,498 for services provided. g. The company paid $525 cash for the monthly rent. h. The company collected $1,469 cash as partial payment for the account receivable created in transaction f. 1. K. Spade withdrew $900 cash from the company for personal use. quired: 1. Prepare general journal entries to record the transactions of Spade Company by using the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Services Revenue; and Rent Expense. 2. Post entries to T-accounts and the ending balances will be calculated.
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 9PB: Prepare journal entries to record the following transactions. Create a T-account for Cash, post any...
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