Prepare the Journal Entries

Journalize the following business transactions in general journal form. Identify each transaction by number.

You may omit explanations of the transactions.  

  1.  Jennie Beagle invests $25,000 cash to start a real estate company operating as a proprietorship.

  2.  Paid $2,100 cash for the first three month's rent.

  3.  Purchased office equipment for $10,000, paying $3,500 in cash and signed a 30-day, 5% note payable for $6,500.

  4.  Paid $600 cash for the purchase of office supplies.

  5.  Received a bill for $500 for advertising for the current month.

  6.  Billed $4,000 to clients for real estate commissions.

  7.  Paid $200 cash on account for the advertising in transaction 5.

  8.  Paid $2,500 cash for office salaries.

  9.  Jennie withdrew $1,200 cash.

  10.  Received a cheque for $2,000 from a client in payment on account for commissions billed in transaction 6.

 Required:

Prepare the journal entries to record the above transactions.