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Selected transactions from the journal of June Feldman, investment broker, are presented below.
Date | | Account Titles and Explanation | | Ref. | | Debit | | Credit |
Aug.1 | | Cash | | | | 6,250 | | |
| | Owner's Capital | | | | | | 6,250 |
| | (Owners investment of cash in business) | | | | | | |
10 | | Cash | | | | 3,250 | | |
| | Service Revenue | | | | | | 3,250 |
| | (Received cash for services performed) | | | | | | |
12 | | Equipment | | | | 6,250 | | |
| | Cash | | | | | | 2,875 |
| | Notes Payable | | | | | | 3,375 |
| | (Purchased equipment for cash and notes payable) | | | | | | |
25 | | Accounts Receivable | | | | 2,125 | | |
| | Service Revenue | | | | | | 2,125 |
| | (Billed clients for services performed) | | | | | | |
31 | | Cash | | | | 1,125 | | |
| | Accounts Receivable | | | | | | 1,125 |
| | (Receipt of cash on account) |
Post the transactions to T-accounts. (Post entries in the order presented in the problem statement.)
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