Reference no: EM132719847
On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month:
a. Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $40,000.
b. Paid rent on office and equipment for the month, $6,000.
c. Purchased supplies on account, $3,200.
d. Paid creditor on account, $1,750.
e. Earned fees, receiving cash, $18,250.
f. Paid automobile expenses (including rental charge) for month, $1,880, and miscellaneous expenses, $420.
g. Paid office salaries, $5,000.
h. Determined that the cost of supplies used was $1,400.
i. Withdrew cash for personal use, $2,000.
Problem 1: Can you put all accounts on a Journal Entry and T accounts? Can Journal all entries and prepare T-Accounts ?
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