Chapter 8, Problem 3PB

Hajun Company started its business on May 1, 2019. The following transactions occurred during the month of May. Prepare the journal entries in the journal on Page 1.

A. The owners invested $5,000 from their personal account to the business account.

B. Paid rent $400 with check #101.

C. Initiated a petty cash fund $200 check #102.

D. Received $400 cash for services rendered

E. Purchased office supplies for $90 with check #103.

F. Purchased computer equipment $1,000, paid $350 with check #104 and will pay the remainder in 30 days.

G. Received $500 cash for services rendered.

H. Paid wages $250, check #105.

I. Petty cash reimbursement office supplies $25, Maintenance Expense $125, Miscellaneous Expense $35. Cash on hand $18. Check #106.

J. Increased Petty Cash by $50, check #107.