Reference no: EM132635833
Question - On August 1, 2019, Rafael Masey established Planet Realty, which completed the following transactions during the month:
1. Rafael Masey transferred cash from a personal bank account to an account to be used for the business, $17,500.
2. Purchased supplies on account, $2,300.
3. Earned fees, receiving cash, $13,300.
4. Paid rent on office and equipment for the month, $3,000.
5. Paid creditor on account, $1,150.
6. Withdrew cash for personal use, $1,800.
7. Paid automobile expenses (including rental charge) for month, $1,500, and miscellaneous expenses, $400.
8. Paid office salaries, $2,800.
9. Determined that the cost of supplies used was $1,050.
Required - Journalize entries for transactions (a) through (i), using the following account titles: Cash; Supplies; Accounts Payable; Rafael Masey, Capital; Rafael Masey, Drawing; Fees Earned; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous Expense.
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