Question

Module 2 (Chapter 2) Assignment Q 1 W V2 Sara Vaughan opened a music business and completed these transactions during March, 2022. Mar 3 Sara Vaughan invested $85,000 cash and recording equipment with a $35,000 fair value in a business called Sara Vaughan Music Store Mar 5 Paid $1,200 for office supplies. Mar 8 Paid $5,000 for the next four months of rent on the office. Mar 12 Purchased $6,400 of new office furniture on credit Mar 13 Provided services to a client and collected $2,400 cash. Mar 15 Paid $650 for this month's advertising to announce the new business. Mar 20 Completed $3,600 of service for a client. This amount is to be received in 45 days. Mar 22 Paid $180 for this month's internet services. Mar 25 Paid for the office furniture purchased on March 12. Mar 29 Received $1.500 payment from the customer given credit on March 20. Mar 31 Sara Vaughan withdrew $856 from the business for personal use. Instructions: Record the above transactions in the General Journal data entry form provided

to be answered in this format

Answer 1

answer of the transaction into journal entry format
Journal Entries Page : Date: Date cr. Mar. 3 Dr. 85.000 35,000 Particular Cash ale Equipment ale To Capital al (Being Business started with Cash & Equipment) 120,000 Mar. 5 DU 1,200 Office Supplies To Cash ale (Being paid for office supp.) 1,200 Mar- 5.000 Advance Rent alc Dr. To Cash all (Being Rent Paid In Advarer) Sooo Mar-12 6,400 6.400 office furniture avc To vendor alc (Being Ore furniture Rand Purchase on credit) Mor-13 2.400 Cash ac To Service Revenue cue (Being Serivee Provide and 2,400 Cash Rec.) Mar. 15 or 650 Advertisement kup. To Cash ale 650

May-20 NO ENTRY 180 180 Mgr. 23 office bep. auc To cash ale afin (Being Cash Paid for Internet service) mar. 25 6,400 6.400 Vendor auc To Cash auc (Being Cash Paid to Nendor 1.500 1.Soo Mar. 29 Cash cyc om To Debter auc Received Cash from Customes) Mgr. 31 Drawings are To Cash aya . (Being. Cash with draw for personal use) 856