Reference no: EM132523415

Question - Selected transactions for Mr. Ibrahim, civil engineer, in his first month of business, are as follows.

2 Jan Invested $100,000 cash in the business

2 Jan Purchased two service vehicles for cash at a cost of $24,000 each.

3 Jan Billed customers $6,800 for services performed.

3 Jan Purchased equipment for $50,000. Paid $10,000 cash, signed $40,000 note payable

9 Jan Paid $1,200 for a one-year insurance policy

11 Jan Purchased $5,000 office supplies (an asset) on credit

16 Jan Paid $350 cash for advertising.

20 Jan Received $5000 cash from customers billed on January 3.

29 Jan Paid for the office supplies on January 11

29 Jan Withdrew $2,300 cash from the business.

Required - Journalize the January transactions. You may omit journal explanations.