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Step 4: Post entries to t accounts. How do I enter this info into T Accounts?
Date
Accounts
Debit
Credit
1-Jul
Cash
15,000.00
Common Stock
Contributed cash for common stock
Baking Supplies
8,500.00
Accounts Payable
3-Jul
10,000.00
note payable
7-Jul
Rent
1,500.00
prepaid
cash
3,000.00
10-Jul
Business Lic
375.00
11-Jul
Cash Register
250.00
13-Jul
Baking Equipment
5,000.00
Advertising Expense
200.00
14-Jul
Misc Supplies
300.00
30-Jul
Phone bill
45.00
accounts payable
31-Jul
Insurance Expense
1,200.00
Salary Expense
120.00
Salary expense
Accounts Receivable
sales
5-Aug
8-Aug
3,200.00
10-Aug
phone bill
15-Aug
acct payable
480.00
Rent expense
18-Aug
1,000.00
Account Receivable
20-Aug
Salary Payable
22-Aug
Misc supplies
31-Aug
Phone expense
420.00
Salary payable
7,500.00
12,500.00
20,000.00
1-Sep
Dividends
5-Sep
salary payable
7-Sep
Merch Inventory
60.00
8-Sep
4,000.00
accts receivable
10-Sep
11-Sep
7,000.00
13-Sep
accounts Payable
15-Sep
salary expense
456.00
68.00
Merch sales revenue
Cost of goods sold
48.00
Merc Inventory
20-Sep
122.00
24-Sep
153.00
merch sales rev
109.60
merc inventory
30-Sep
151.25
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