Concept explainers
Lavender Company started its business on April 1, 2019. The following are the transactions that happened during the month of April. Prepare the
A. The owners invested $7,500 from their personal account to the business account.
B. Paid rent $600 with check #101.
C. Initiated a petty cash fund $250 check #102.
D. Received $350 cash for services rendered.
E. Purchased office supplies for $125 with check #103.
F. Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days.
G. Received $750 cash for services rendered.
H. Paid wages $375, check #105.
I. Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60.
Cash on hand $8. Check #106.
J. Increased Petty Cash by $70, check #107.
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