Journalize entries for transactions a through f omit the

Reference no: EM13395421

On March 1, 2012, Mitch Quade established Mitch Realty, which completed the following transactions during the month:

a) Mitch Quade transferred cash from a personal bank account to an account to be used for the business in exchange for capital stock, $18,000.

b) Purchase supplies on account, $1,200.

c) Earned sales commission, receiving cash, $14,000.

d) Paid rent on office and equipment for the month, $2,800.

e) Paid creditor on account, $750.

f) Paid office salaries, $3,000.

Instructions:

1. Journalize entries for transactions (a) through (f). Omit the journal entry explanations. Please use the drop-down list (right of the cell) to enter the account description box on the worksheet.

2. Post the journal entries the T accounts, placing the appropriate letter to the left of each amount to identify the transactions. Determine the account balance after all posting is complete. Accounts containing only a single entry do not need a balance.

3. Prepare and unadjusted trial balance as of March 31, 2012.

Reference no: EM13395421

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