Reference no: EM132651163
Question - Julia Dumars is a licensed CPA. During the first month of operations of her business, Tamarisk, Inc., the following events and transactions occurred.
May 1 Stockholders invested $22,000 cash in exchange for common stock.
May 2 Hired a secretary-receptionist at a salary of $1,100 per month.
May 3 Purchased $1,600 of supplies on account from Vincent Supply Company.
May 7 Paid office rent of $770 cash for the month.
May 11 Completed a tax assignment and billed client $1,900 for services performed.
May 12 Received $2,900 advance on a management consulting engagement.
May 17 Received cash of $1,100 for services performed for Orville Co.
May 31 Paid secretary-receptionist $1,100 salary for the month.
May 31 Paid 40% of balance due Vincent Supply Company.
Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.
Required - Journalize the transactions.