Business, 02.03.2020 23:01, tkies1028

Set up T accounts for Cash; Accounts Receivable; Supplies; Accounts Payable; Clay Potter, Capital;
Clay Potter, Drawing; Professional Fees; and Operating Expenses.
(a) In the T accounts, record the following transactions of Potter Pool Services for June 2007, identifying each entry by number:
(1) Potter invested $12,500 cash in the business.
(2) Purchased supplies on account, $6,250.
(3) Paid operating expenses, $5,500.
(4) Billed clients for fees, $7,440.
(5) Received cash from cash clients, $4,700.
(6) Paid creditors on account, $1,400.
(7) Received $3,100 from clients on account.
(8) Withdrew $1,500 cash for personal use.
(b) Prepare a trial balance as of June 30, 2009 for Potter Pool Services.

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Set up T accounts for Cash; Accounts Receivable; Supplies; Accounts Payable; Clay Potter, Capital;