Reference no: EM132711261
Question - Arina Dubon recently started her own cabinet repair business. Transactions for the first month of operations (October 2019) are as follows.
1) Arina invested $14,400 cash in the business.
2) Paid two months of rent for $900 in advance.
3) Purchased store equipment worth $2,900 with cash.
4) Incurred business registration expenses, paid with $810 cash.
5) Paid travel expenses with $1,250 cash.
6) Received $2,640 cash from customers for cabinet repair services performed during the month.
7) Provided cabinet repair services worth $1,730 on account.
8) Paid $1,210 to an assistant.
9) Borrowed $1,830 cash from the bank.
10) Received $750 in bills for utilities to be paid next month.
11) Arina withdrew $990 cash for personal purposes.
12) Received $330 owing from a customer for service provided earlier this month.
Required - Record the above transactions on the T-Account worksheet.
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for negative values.
The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T-Account field.
If an input will not be used, you can leave it blank.