Pete Harris started a painting business in May. Prepare journal entries to record the transactions...
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Pete Harris started a painting business in May. Prepare journal entries to record the transactions during the month of May detailed below. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. Pete started the business by investing cash of $10,600, equipment with a fair value of $2,650, and painting supplies with a fair value of $450. 2. Entered into a painting contract with a client for a total of $1,325 that provided a deposit of $265 prior to commencing any work. 3. Purchased painting supplies for
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