Answer and Explanation:
The Transaction of T-accounts is shown below:-
1. Cash Account
Cash
Date Debit Date Credit
Oct 1 $79,200 Oct 4 $2,400
Oct 27 $3,800 Oct 7 $4,800
Oct 8 $2,600
Oct 21 $16,800
Oct 24 $178
Oct 31 $6,100
Balance $50,122
Note Cash account has $50,122 debit balance on October 31.
2. Accounts receivable account
Accounts receivable
Date Debit Date Credit
Oct 12 $3,800 Oct 27 $3,800
Balance 0
Accounts receivable account has $0 debit balance on October 31.
3. Supplies Account
Supplies
Date Debit Date Credit
Oct 16 $490
Balance $490
Supplies account has $490 debit balance on October 31.
4. Equipment Account
Equipment
Date Debit Date Credit
Oct 7 $21,600
Balance $21,600
Equipment account has $21,600 debit balance on October 31.
5. Accounts payable account
Accounts payable
Date Debit Date Credit
Oct 21 $16,800 Oct 7 $16,800
Oct 10 $510
Oct 16 $490
Balance $1,000
Accounts payable account has $1,000 credit balance on October 31.
6. Common stock account
Common stock
Date Debit Date Credit
Oct 1 $79,200
Balance $79,200
Common stock account has $79,200 credit balance on October 31.
7. Service revenue account
Service revenue
Date Debit Date Credit
Oct 12 $3,800
Balance $3,800
Service revenue account has $3,800 credit balance on October 31.
8. Advertising Expense account
Advertising Expenses
Date Debit Date Credit
Oct 8 $2,600
Balance $2,600
Advertising Expense account has $2,600 debit balance on October 31.
9. Salaries and Wages Expense account
Salaries and Wages Expense
Date Debit Date Credit
Oct 31 $6,100
Balance $6,100
Salaries and Wage Expense account has $6,100 debit balance on October 31.
10. Maintenance and Repairs Expense account
Maintenance and Repairs Expense
Date Debit Date Credit
Oct 10 $510
Balance $510
Maintenance and Repairs Expense account has $510 debit balance on October 31.
11. Rent Expense account
Rent Expense
Date Debit Date Credit
Oct 4 $2,400
Balance $2,400
Rent Expense account has $2.400 debit balance on October 31.
12. Utilities Expense account
Utilities Expense
Date Debit Date Credit
Oct 24 $178
Balance $178
Utilities account has $178 debit balance on October 31.
