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  3. craft company engages in the following.external tr

Craft Company engages in the following.external transactions for November. 1. Purchase equipment in exchange for...

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Accounting

Craft Company engages in the following.external transactions for November. 1. Purchase equipment in exchange for cash of $22,200. 2. Provide services to customers and receive cash of $6,000. 3. Pay the current month's rent of $1,100. 4. Purchase office supplies on account for $700. 5. Pay employee salaries of $1,200 for the current month. Required: Record the transactions. Craft uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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