Question

Selected activity of Mason Consulting Services follow. DATE TRANSACTIONS 2019 Sept. 1 Zack Mason invested $45,000 in cash to start the firm. 4 Purchased office equipment for $5,000 on credit from Den, Inc. received Invoice 9823, payable in 30 days 16 Purchased an automobile that will be used to visit clients; issued Check 1001 for $13,000 in full payment 20 Purchased supplies for $370; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $95. 30 Issued Check 1003 for $2,950 to Den, Inc., as payment on account for Invoice 9823 30 Withdrew $1,500 in cash for personal expenses. 30 Issued Check 1004 for $950 to pay the rent for September 30 Performed services for $3,000 in cash. 30 Paid $360 for monthly telephone bill, Check 1005. Post the above transactions into the appropriate Ledger accounts.

Answer 1

Cash					Accounts receivables
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Sep-01	$     45,000		$     45,000
Sep-16		$     13,000	$     32,000
Sep-20		$           370	$     31,630
Sep-23	$             95		$     31,725
Sep-30		$       2,950	$     28,775
Sep-30		$       1,500	$     27,275
Sep-30		$           950	$     26,325
Sep-30	$       3,000		$     29,325
Sep-30		$           360	$     28,965
Supplies					Equipment
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Sep-20	$           370		$           370		Sep-04	$       5,000		$       5,000
Sep-23		$             95	$           275
Automobile					Accounts payable
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Sep-16	$     13,000		$     13,000		Sep-04		$   5,000	$       5,000
					Sep-30	$       2,950		$       2,050
Zack Mason, Capital					Zack Mason, Drawing
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Sep-01		$     45,000	$     45,000		Sep-30		$   1,500	$       1,500
Fees Income					Rent Expense
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
Sep-30		$       3,000	$       3,000		Sep-30	950		$           950
Salaries Expense					Telephone Expense
Date	Debit	Credit	Balance		Date	Debit	Credit	Balance
					Sep-30	$           360		$           360