Trixie Maye startes her own consulting firm, Matrix Consulting, on May 1, 2017.

The
following May:
2 1
1. Trixie invested $7,000 cash in the business
Owner’s equity
4 3
2. Paid $900 for office rent for the month
cash expense
6 5
3. Purchased $600 for office rent for the month
Account payable Supplies
8 7
5. Paid $125 to advertise in the city country news
cash expense
9 10
9. Received $4,000 cash for services performed.
Revenue
11 12
12.Withdrew $1,000 cash for personal use
Drawings
14 13
15. Performed $5,400 of services on account
Revenue Account payable
16 15
17. Paid $2,500 for employee salaries
cash expense
18 17
20. Paid for the supplies purchased on account on May 3
cash Account payable
19 20
23. Received a cash payment of $4,000 for services performed on account May 15
21 22 Account Receivable
26. Borrowed $5,000 from the bank on a note payable.
cash
23 24
29. Purchased equipment for $4,200 on account
26 Account payable
25
30. Paid $275 for utilities
cash expense