Reference no: EM132923603

Question - Helen Ingersoll owns and operates an interior design studio called Ingersoll Interiors. The following amounts summarize the financial position of her business on August 31, 20X2:

During September 20X2, the following events occurred.

a. Ingersoll inherited $20,000 and deposited the cash in the business bank account.

b. Performed services for a client and received cash of $700.

c. Paid off the beginning balance of accounts payable.

d. Purchased supplies on account, $1,000.

e. Collected cash from a customer on account, $1,000.

f. Invested personal cash of $1,000 in the business.

g. Consulted on the interior design of a major office building and billed the client for services rendered, $2,400.

h. Recorded the following business expenses for the month:

1. Paid office rent, $900.

2. Paid advertising, $100.

i. Sold supplies to another business for $150 cash, which was the cost of the supplies.

j. Withdrew cash of $1,100 for personal use.

Required - Prepare General Journal entries of above transactions.