Selected transactions from the journal of June Feldman, investment broker, are presented below. ...
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Accounting
Selected transactions from the journal of June Feldman, investment broker, are presented below.
| Date | Account Titles and Explanation | Ref. | Debit | Credit | ||||
|---|---|---|---|---|---|---|---|---|
| Aug.1 | Cash | 6,250 | ||||||
| Owner's Capital | 6,250 | |||||||
| (Owners investment of cash in business) | ||||||||
| 10 | Cash | 3,250 | ||||||
| Service Revenue | 3,250 | |||||||
| (Received cash for services performed) | ||||||||
| 12 | Equipment | 6,250 | ||||||
| Cash | 2,875 | |||||||
| Notes Payable | 3,375 | |||||||
| (Purchased equipment for cash and notes payable) | ||||||||
| 25 | Accounts Receivable | 2,125 | ||||||
| Service Revenue | 2,125 | |||||||
| (Billed clients for services performed) | ||||||||
| 31 | Cash | 1,125 | ||||||
| Accounts Receivable | 1,125 | |||||||
| (Receipt of cash on account) |
Post the transactions to T-accounts. (Post entries in the order presented in the problem statement.)
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