Reference no: EM133059242
Question - Ben Kennedy opened a car repair business and completed these transactions during July of the current year:
April 1 Invested $50,900 of his personal savings into a checking account opened in the name of the business.
April 3 Rented a garage space and paid $2,500 cash for the month of July.
April 4 Purchased tire repair equipment for $35,000, paying $30,000 cash and agreeing to pay the balance in one year.
April 5 Purchased office supplies for $355 cash.
April 9 Completed work for a client and immediately collected $422 cash for the services.
April 15 Completed $1,689 services for a client on credit.
April 22 Received $1,000 from a client for the work completed on April 15.
April 30 Paid a helpers monthly salary, $962 cash.
April 30 Ben withdrew $1,000 for personal use.
Required - Create the journal entries for these transactions and record them in their correct T accounts.