Menu
support@businesspapershelp.com
+1(805) 568 7317

79 determine the accounts and amounts to be debited and credited for the following t 4300125

 

79.Determine the accounts and amounts to be debited and credited for the following transactions for Monroe's Auto Repair.A. Marilyn Monroe invested $50,000 in cash to start the firm.B. Issued check for $4,000 to pay the rent for current month.C. Purchased an automobile that will be used to visit clients; issued check for $32,500 in full payment.D. Purchased supplies for $800; paid immediately by check.E. Purchased office equipment for $18,500 on credit from Denton, Inc.; received invoice, payable in 30 days.F. Performed services for $2,580 in cash.G. Returned damaged supplies for a cash refund of $50.H. Issued check for $15,600 to Denton, Inc., as payment on account.I. Paid $120 for monthly telephone bill by check.J. Withdrew $500 in cash for personal expenses.  

A. Cash (dr. $50,000); Marilyn Monroe, Capital (cr. $50,000)B. Rent Expense (dr. $4,000); Cash (cr. $4,000)C. Automobile (dr. $32,500); Cash (cr. $32,500)D. Supplies (dr. $800); Cash (cr. $800)E. Office Equipment (dr. $18,500); Accounts Payable (cr. $18,500)F. Cash (dr. $2,580); Fees Income (cr. $2,580)G. Cash (dr. $50); Supplies (cr. $50)H. Accounts Payable (dr. $15,600); Cash (cr. $15,600)I. Telephone Expense (dr. $120); Cash (cr. $120)J. Marilyn Monroe, Drawing (dr. $500); Cash (cr. $500)

 

 

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now