Reference no: EM132953555
Problem 1: Create T-accounts for the transactions presented. During the month of May 2020, Bruno Ayala, an accountant, opened an office and performed the following transactions:
February 1- An investment was made to open the office for $30,000.
2 -Paid the rent for the month for $1,400. 3 Received money from a client for $1,400.
4 -Money was received from a client for $600 for a service.
6 -Purchased materials for $500 in cash.
10 -Performed services for a customer on credit for $1,000.
12 -Office equipment was purchased on credit for $1,500.
14 -Gas expenses of $100 were incurred.
16 -A payment is received from the customer serviced on credit for $600.
18- The administrative assistant's salary was paid for $2,500.