Reference no: EM132819466
Question - The following transactions took place at Willis Counseling Services, a business established by Raymond Willis.
Post the following transactions into the appropriate T accounts.
Transactions:
1. Raymond Willis invested $50,000 cash in the business.
2. Purchased office furniture for $17,000 in cash.
3. Bought a fax machine for $675; payment is due in 30 days.
4. Purchased a used car for the firm for $17,800 in cash.
5. Willis invested an additional $15,500 cash in the business.
6. Bought a new computer for $1,250; payment is due in 60 days.
7. Paid $675 to settle the amount owed on the fax machine.
8. Willis withdrew $5,200 in cash for personal expenses.
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