Accounts Receivable Supplies Equipment Notes Payable Rent Expense (1 pt. ea.- 8 pts) Unearned Service Revenue Owner's Ca

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Accounts Receivable
Supplies
Equipment
Notes Payable
Rent Expense
(1 pt. ea.-
8 pts)
Unearned Service Revenue
Owner's Capital
Owner's Drawings
Service Revenue
Accounts Payable
1. The owner invests $70,000 cash to start the business
2. Purchased $1,000 of
supplies on account
3. Paid $1,800 cash for rent for the current month
4. Purchased equipment for $190,000,
paying $75,000 cash and
signing a
5-year,
10% note payable for the remainder.
5. Billed a customer for $550 for photocopy work performed
6. Received $1,100 cash advance from a customer for future
copying.
7
• Paid $800 on account for supplies purchased in transaction
2
8. The
owner withdrew $1,400 from the business for personal
expenses
Required:
Prepare the journal entries for the 8 items
above.
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