15 Feb Travis Fortney, an architect, opened an office on April 1, 20111 During the month, he completed the following transactions connected with his professional practice: a. Transferred
Instructions:
PR 2-1A
Entries intoT accounts and trial balance objS* 11 2, 3, 4
Travis Fortney, an architect, opened an office on April 1, 20111 During the month, he completed the following transactions connected with his professional practice:
a. Transferred cash from a personal bank account to an account to be used for the
business, $30,000,
b. Purchased used automobile for $19,500, paying $4,500cash and giving a note payable for the remainder.
Paid April rent for office and workroom, $3,001)
Paid cash for supplies, $1,450,
e. Purchased office and computer equipment on account, $6,000.
f, Paid cash for annual insurance policies on automobile and equipment, $2,000. g, Received cash from a client for plans delivered, $7,500.
h. Paid cash to creditors on account, $1,750,
Paid cash for miscellaneous expenses, $50(1
Received invoice for blueprint service, due in May, $1,000.
k, Recorded fee earned on plans delivered, payment to be received in May, $5,200*
I Paid salarv of assistant, $1,600,
m. Paid cash for miscellaneous expenses, $325. ne Paid installment due on note payable, $250.
o. Paid gas, oil, and repairs on automobile for April, $400.
Record the transactions in the General Journal. Apply the Debit and Credit rules.
Transfer transactions to the general ledger and prepare a trial balance
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