Answer:
Journal entries
Service Revenue Debit $ 750
Cash Credit $ 750
To record refund to customer for lost package
Utility Expenses Debit $ 1,050
Cash Credit $ 1,050
To record payment of utility company bill in cash
Accounts Receivable Debit $ 7,800
Service Revenue Credit $ 7,800
To record receivables for services provided on credit
Equipment Debit $ 4,600
Cash Credit $ 4,600
To record purchase of equipment for cash
Accounts payable Debit $ 3.500
Cash Credit $ 3,500
To record payment to creditors
Cash Debit $ 15,250
Service revenue Credit $ 15,250
To record services provided on cash
Cash Debit $ 6,250
Accounts receivables Credit $ 6,250
To record collections from customers
Cash Debit $ 25,000
Capita account Owner Credit $ 25,000
To record capital contribution from owner
Supplies Debit $ 3,250
Accounts payable Credit $ 3,250
To record purchase of supplies on credit
Rent expense Debit $ 3,750
Cash Credit $ 3,750
To record payment of monthly rent
Explanation:
