Reference no: EM131816649
The following transactions occurred for London Engineering:
July 2 Received $12,000 contribution from Brett London, owner, in exchange for capital
4 Paid utilities expense of $410
5 Purchased equipment on account, $2,200
10 Performed services for a client on account, $2,800
12 Borrowed $7,500 cash, signing a notes payable.
19 The owner, Brett London, withdrew $750 cash from the business
21 Purchased office supplies fro $860 and paid cash
27 Paid the liability from July 5
Journalize the transaction of London Engineering. Include an explanation with each journal entry. Use the following accounts:
Cash;
Accounts Receivable;
Office Supplies;
Equipment;
Accounts Payable;
London, Capital;
London Withdrawals;
Service Revenue;
Utilities Expense.
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