Please prepare the journal entries for the transactionsbelow:
Joan Miller Advertising Agency
This comprehensive problem involving the Joan Miller AdvertisingAgency covers all the learning objectives on measuring businesstransactions and measuring business income. The July31, 20xx, post-closing trial balance for the Joan MillerAdvertising Agency appears at the bottom of the next page. DuringAugust, the agency engaged in thesetransactions:
Aug.1 Received an additional investment of cash fromJoan Miller, $6,300.
Purchased additional office equipment with cash, $1,200.
5 Received art equipment transferred to thebusiness from Joan Miller $1,400
6 Purchased additional office supplies withcash, $90
7 Purchased additional art supplies on creditfrom Taylor Supply Company, $450.
8 Completed the series of advertisements(total price $800) for Marsh Tire Company that began on July 31. The July 31 portion was $200.
Paid the secretary for two weeks’ wages, $1,200. The last payperiod ended Friday July 26.
Paid the amount due to Morgan Equipment for the office equipmentpurchased last month $1,500.
Accepted an advance in cash for artwork to be done for anotheragency, $1,600.
Purchased a copier (office equipment) from Morgan Equipment for$2,100, paying $350 in cash and agreeing to pay the rest in equalpayments over the next five months.
Performed advertising services and received a cash fee,$1,450.
Received payment on account from Ward Department Stores forservices for services performed last month, $2,800.
Paid amount due for the telephone bill that was received andrecorded at the end of July $140.
Performed advertising services for Ward Department Stores andagreed to Accept payment next month, $3,200.
Performed art services for cash, $580.
Received and paid the utility bill August, $220.
Paid the secretary for two weeks’ wages, $1,200.
Paid the rent for September in advance, $800.
Received the telephone bill for August, which is to be paid nextmonth, $160.
Paid cash to Joan Miller as a withdrawal for personal expenses,$1,400.
REQUIRED
Record the transactions for August in journal form
