Mathematics, 18.03.2021 03:10, emmabarnett817

Record the following selected transactions for January in a two‐column journal. (a) Earned $7,000 fees; customer will pay later.

(b) Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit

(c) Paid $3,000 for rent for January.

(d) Purchased $2,500 of supplies on account.

(e) A. Allen $1,000 investment in the company.

(f) Received $7,000 in cash for fees earned previously.

(g) Paid $1,200 to creditors on account.

(h) Paid wages of $6,250.

(i) Received $7,150 from customers on account.

(j) A. Allen withdrawal of $1,750.

4. For part (j), which accounts are affected?

A. Supplies, Allen, Capital and Cash

B. Accounts Receivable and Cash

C. Cash and Accounts Receivable

D. Allen, Withdrawal and Cash

Answers: 3

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Record the following selected transactions for January in a two‐column journal. (a) Earned $7,000 f...