Mahmood establishing his photography studio December 1, 2021 During the first month of operations the following transactions occumred Dec 1 Mahmood invested 525.000 cash in his business 5 Paid office rent for the month $2,300. 7 Performed services worth S3800; $2,000 cash is received from customers and the balance is biled to customers on account. 9 Purchased supplies on account for $1,100 from Digital Shot Company 15 Received 53500 cash advance from customer for photography services 20 Received $1.000 cash from customers billed on Dec 5. 28 Paid S60 to Digital Shot Company for accounts payable due REQUIRED: Prepare joumal entries to recond each transaction occurred during December 2021.

Mahmood establishing his photography studio December 1, 2021 During the first month of operations the following transactions occumred Dec 1 Mahmood invested 525.000 cash in his business 5 Paid office rent for the month $2,300. 7 Performed services worth S3800; $2,000 cash is received from customers and the balance is biled to customers on account. 9 Purchased supplies on account for $1,100 from Digital Shot Company 15 Received 53500 cash advance from customer for photography services 20 Received $1.000 cash from customers billed on Dec 5. 28 Paid S60 to Digital Shot Company for accounts payable due REQUIRED: Prepare joumal entries to recond each transaction occurred during December 2021.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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