1-Mark invested $20,000 cash in the business 2-Purchase equipment for $15,000 in
ID: 2427514 • Letter: 1
Question
1-Mark invested $20,000 cash in the business
2-Purchase equipment for $15,000 in cash
3-Purchase supplies on account for $500.00
4-Billing clients for $3,000 for services
5-Paid $300.00 for advertising expense for business
Instructions:
Journalize the following transactions. Do not provide explanations.
Please write a correct account titles in complete word. Example: Account Payable.
(Omit a letter S in the end of word).
Trans.
accounttitles
debit
credit
1a
_______________
20,000
2b
______________
20,000
2a
_____________
15,000
2b
_____________
15,000
3a
________________
500
3b
_____________
500
4a
________________
3000
4b
______________
3000
5a
_________________
300
5b
______________
300
Trans.
accounttitles
debit
credit
1a
_______________
20,000
2b
______________
20,000
2a
_____________
15,000
2b
_____________
15,000
3a
________________
500
3b
_____________
500
4a
________________
3000
4b
______________
3000
5a
_________________
300
5b
______________
300
Explanation / Answer
Answer:
1. Cash A/C Dr. $20000
To capital A/C $20000
2. Equipment A/C Dr. $15000
To cash A/C $15000
3. Supplies A/C Dr. $500
To Accounts Payable A/C $500
4. Accounts Receivable A/C Dr. $3000
To Service revenue A/C $3000
5. Advertising expense A/C Dr. $300
To cash A/C $300
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