1. Jose Casimero started a laundry business and invested 1,000,000 cash to the business. 2. Receive Cash of 1,200 for laundry services rendered. 3. Paid rent for the space occupied, 10,000. 4. Bought on account table Equipment for 5,000 5. Borrowed money from bank 200,000 Use these accounts in your entries: Cash Casimero, Capital Accounts Receivable Casimero, Drawing Laundry Service Revenue Prepaid Insurance Office Supplies Furniture and Equipment Salary Expense Rent Expense Accounts Payable Loans Payable Utilities Expense Miscellaneous Expense

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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What is the journal entry?
1. Jose Casimero started a laundry business and invested 1,000,000 cash to the business.
2. Receive Cash of 1,200 for laundry services rendered.
3. Paid rent for the space occupied, 10,000.
4. Bought on account table Equipment for 5,000
5. Borrowed money from bank 200,000
Use these accounts in your entries:
Cash
Casimero, Capital
Casimero, Drawing
Accounts Receivable
Prepaid Insurance
Office Supplies
Laundry Service Revenue
Salary Expense
Rent Expense
Furniture and Equipment
Accounts Payable
Loans Payable
Utilities Expense
Miscellaneous Expense
Transcribed Image Text:1. Jose Casimero started a laundry business and invested 1,000,000 cash to the business. 2. Receive Cash of 1,200 for laundry services rendered. 3. Paid rent for the space occupied, 10,000. 4. Bought on account table Equipment for 5,000 5. Borrowed money from bank 200,000 Use these accounts in your entries: Cash Casimero, Capital Casimero, Drawing Accounts Receivable Prepaid Insurance Office Supplies Laundry Service Revenue Salary Expense Rent Expense Furniture and Equipment Accounts Payable Loans Payable Utilities Expense Miscellaneous Expense
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