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Prepare general journal entries to record the transactions below for Spade Company by using the following accounts:

Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common stock; Dividends; Fees Earned; and Rent Expense.

Use the letters beside each transaction to identify entries. After recording the transactions, post them to T-accounts. Determine the ending balance of each T-account.

Create Income Statement, Statement of Retained Earnings, Balance Sheet and Cash Flow Statement

The Company Sells Cars. You are preparing the transactions as of 31 August 2020

1. Salman (owner) invested BHD 100,000 cash in the company in exchange for common stock
2. The company purchased office Furniture for BHD 10,000 cash.
3. The company purchased Supplies for BHD 7,000 on credit.
4. The company received BHD 10,300 cash as fees for selling 1 Car.
5. The company paid BHD 5,200 cash to settle the payable for the office equipment purchased in transaction c.
6. The company billed a customer BHD 2,300 as fees for servicing the car.
7. The company paid BHD 1500 cash for the monthly rent.
8. The company collected BHD 700 cash as partial payment for the account receivable created in transaction f.
9. The company paid BHD 30,000 cash in dividends to Salman (sole shareholder).

Please note that the company has an opening balance of Retained earnings of BHD 55,000.

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