Reference no: EM133137196

Question - The transactions of Spade Company appear below.

1. Kacy Spade, owner, invested $17,750 cash in the company.

2. The company purchased office supplies for $515 cash.

3. The company purchased $9,816 of office equipment on credit.

4. The company received $2,094 cash as fees for services provided to a customer.

5. The company paid $9,816 cash to settle the payable for the office equipment purchased in transaction c.

6. The company billed a customer $3,763 as fees for services provided.

7. The company paid $535 cash for the monthly rent.

8. The company collected $1,580 cash as partial payment for the account receivable created in transaction f.

9. Kacy Spade withdrew $1,100 cash from the company for personal use.

Required -

1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.

2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment.