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Post the folowing using T-Accounts

Post the folowing using T-Accounts

FINANCIAL ACCOUNTING
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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Post the folowing using T-Accounts
Date Account Titles and Explanation PR Debit Credit P 320000 25000 00 1 Sept. 01 Cash Furniture Garamundo, Capital to record initial investment P345000 3 00 Prepaid Rent 30000 6 3000000 Cash to record advance payment of rent for three months 8. 9. 62000 00 03 Equipment Accounts Payable to record acquisition of repair equipment on account 10 10 62000 11 11 12 12 13 13 14 05 Supplies 14 6000 15 Cash to record purchase of supplies 15 16 16 17 17 3500 07 Gasoline Experse Cash to record payment for gasoline 18 18 3500 10, 19 19 20 20 21 21 32500 0 08 Cash Service Revenue to record services rendered for cash 22 32500 00 23 23 24 24 25 10 Accounts Receivable Service Revenue to record services rendered on account 26 26 55500 0, 27 27 28 28 29 12 Accounts Payable 62000 30 30 Cash 2000 31 to record payment for accounts payable for the equipment 32 33 15 Cash Accounts Receivable to record partial collections of accounts 33800 00 34 35 0, 35 36 36 18 3
Transcribed Image Text:Date Account Titles and Explanation PR Debit Credit P 320000 25000 00 1 Sept. 01 Cash Furniture Garamundo, Capital to record initial investment P345000 3 00 Prepaid Rent 30000 6 3000000 Cash to record advance payment of rent for three months 8. 9. 62000 00 03 Equipment Accounts Payable to record acquisition of repair equipment on account 10 10 62000 11 11 12 12 13 13 14 05 Supplies 14 6000 15 Cash to record purchase of supplies 15 16 16 17 17 3500 07 Gasoline Experse Cash to record payment for gasoline 18 18 3500 10, 19 19 20 20 21 21 32500 0 08 Cash Service Revenue to record services rendered for cash 22 32500 00 23 23 24 24 25 10 Accounts Receivable Service Revenue to record services rendered on account 26 26 55500 0, 27 27 28 28 29 12 Accounts Payable 62000 30 30 Cash 2000 31 to record payment for accounts payable for the equipment 32 33 15 Cash Accounts Receivable to record partial collections of accounts 33800 00 34 35 0, 35 36 36 18 3
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