Answer:
Oct. 1
Rent Expense $2,800 (debit)
Cash $2,800 (credit)
Oct 3.
Advertising Expense $525 (debit)
Cash $525 (credit)
Oct 5.
Supplies $1,250 (debit)
Cash $1,250 (credit)
Oct 6.
Office Equipment $9,300 (debit)
Accounts Payable $9,300 (credit)
Oct 10.
Cash $16,600 (debit)
Accounts Receivable $16,600 (credit)
Oct 15.
Accounts Payable $3,720 (debit)
Cash $3,720 (credit)
Oct 27.
Miscellaneous Expense $590 (debit)
Cash $590 (credit)
Oct 30.
Utilities Expense $275 (debit)
Cash $275 (credit)
Oct 31.
Accounts Receivable $50,160 (debit)
Fees Earned $50,160 (credit)
Oct 31.
Utilities Expense $830 (debit)
Cash $830 (credit)
Oct 31.
Capital; Jason Payne $1,700 (debit)
Cash $1,700 (credit)
Explanation:
Transactions are recorded when they occur or incur according to Matching Principle.
Note ; Cash withdrawals reduce the owners capital account and decreases the assets of cash.
