Handy Dandy Repair Shop had the following transactions during the first month of business as a proprietorship.
Aug. 2 | Invested $11,440 cash and $2,350 of equipment in the business. | |
7 | Purchased supplies on account for $490. (Debit asset account.) | |
12 | Performed services for clients, for which $1,380 was collected in cash and $640 was billed to the clients. | |
15 | Paid August rent $555. | |
19 | Counted supplies and determined that only $245 of the supplies purchased on August 7 are still on hand. |
Journalize the transactions.
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