ASSIGNMENT TWO

Journalize the following business transactions in general journal form:

1) Edward formed a business, Ed. Invested $40,000 cash.
2) The company purchased suppliers for $3000.
3) The business purchased equipment for $6000.
4) The business purchased supplies for $4500 on credit from Suzan’s company.
5) The business earned $5000 revenue for providing consulting services.
6) The company paid $2000 rent, and $4000 for wages.
7) The company provided services for $3000 for sally’s company on credit.
8) Sally’s company paid $2000 from the amount that was due.
9) The company paid $2500 to Suzan’s company.
10) The owner of the company made withdrawals of $500 for personal use.

DATE Account Title Debit Credit

1. Cash 40,000$
Owner’s Capital 40,000$
2. Supplies 3000$
Cash 3000$
3. Equipment 6000$
Cash 6000$
4. Supplies 4500$
Account Payable 4500$
5. Cash 5000$
Revenues 5000$
6. Wages expense 4000$
Rent expense 2000$
cash 6000$
7. Account Receivable 3000$
Revenues 3000$
8. cash 2000$
Account receivable 2000$
9. Account payable 2500$
cash 2500$
10. withdrawals 500$
cash 500$
General journal