70.2K
Verified Solution
Link Copied!
Allowing transactions in the two-column journal
May 1 Susan invested $5,000 cash to start the business.
May 5 Purchased office furniture on account, $3,000.
May 9 Paid office rent for the month, $450.
May 10 Received fees for referral services, 500
May 15 Made payment on account (for office furniture), 100
May 20 Earned referral fees 125 cash and 175 on account.
May 25 Paid wages to clerk for part-time work. $400.
May 28 Withdrew cash for personal use, S100.
May 9 Received cash for referral services previously rendered 150
Answer & Explanation
Solved by verified expert
