On April 1, 2012, Kathleen Alvarez established an interior decorating business, Intrex Designs

On April 1, 2012, Kathleen Alvarez established an interior decorating business, Intrex Designs.
During the month, Kathleen completed the following transactions related to the business:
Apr. 1. Kathleen transferred cash from a personal bank account to an account to be
used for the business in exchange for capital stock, $17,000.
2. Paid rent for period of April 2 to end of month, $3,400.
6. Purchased of?ce equipment on account, $10,000.
8. Purchased a used truck for $21,000, paying $2,000 cash and giving a note
payable for the remainder.
10. Purchased supplies for cash, $1,800.
12. Received cash for job completed, $13,000.
Apr. 15. Paid annual premiums on property and casualty insurance, $1,800.
23. Recorded jobs completed on account and sent invoices to customers, $9,000.
24. Received an invoice for truck expenses, to be paid in April, $1,000.
Enter the following transactions on Page 2 of the two-column journal.
29. Paid utilities expense, $1,500.
29. Paid miscellaneous expenses, $750.
30. Received cash from customers on account, $7,800.
30. Paid wages of employees, $4,000.
30. Paid creditor a portion of the amount owed for equipment purchased on
April 6, $2,500.
30. Paid dividends, $2,000.

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1) Cash
Kathleen Alvarez, Capital

11
31

17,000

2) Rent Expense
Cash

53
11

3,400

6) Equipment
Accounts Payable

16
22

10,000

8) Truck
Cash
Notes Payable

18
11
21

2 1,000

10) Supplies
Cash

13
11

1,800

12) Cash
Fees Earned

11
41

13,000

17,000
3,400
10,000

2 ,000
19,000
1,800

13,000

15) Prepaid Insurance
Cash

14
11

1,800

23) Accounts Receivable
Fees Earned

12
41

9,000

24) Truck Expense
Accounts Payable

55
22

1,000

1,800

9,000
1,000

Apr. 29) Utilities Expense
Cash

Debit

Credit

54
11

1,500

29) Miscellaneous Expense
Cash

59
11

7 50

30) Cash
Accounts Receivable

11
12

7 ,800

30) Wages Expense
Cash

51
11

4,000

30) Accounts Payable
Cash

22
11

2 ,500

30) Kathleen Alvarez, Drawing
Cash

32
11

2 ,000Attachment Preview: