May1, Business owner Bill Doors invested $200,000 in cash and office equipment worth $48,000 in the business bank account 2. May1st, prepaid $14,400 cash for three month office rent. 3. May2nd, made credit purchase of office equipment for $24,000 and office supplies for $4800 4. May6, completed services for a client and received $4000 cash. 5. May9, completed a $16,000 project service for a patient, who will pay within 30 days. 6. May10, paid balance owing on May2nd. 7. May19, paid $12,000 cash for the annual liability insurance premium 8. May22, received $12,800 as partial payment for the services done on May9. 9. May25, completed consulting services for another client for $5280 on account. 10. May31, Bill Doors withdrew $12,400 cash for personal use. 11. May31, purchased $1600 additional office supplies on account. 12. May31, paid $1400 for the monthly utility bill.
May1, Business owner Bill Doors invested $200,000 in cash and office equipment worth $48,000 in the business bank account
2. May1st, prepaid $14,400 cash for three month office rent.
3. May2nd, made credit purchase of office equipment for $24,000 and office supplies for $4800
4. May6, completed services for a client and received $4000 cash.
5. May9, completed a $16,000 project service for a patient, who will pay within 30 days.
6. May10, paid balance owing on May2nd.
7. May19, paid $12,000 cash for the annual liability insurance premium
8. May22, received $12,800 as partial payment for the services done on May9.
9. May25, completed consulting services for another client for $5280 on account.
10. May31, Bill Doors withdrew $12,400 cash for personal use.
11. May31, purchased $1600 additional office supplies on account.
12. May31, paid $1400 for the monthly utility bill.
Please make four step process(1. entries, 2. T-account 3.
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