Accounting - Journalizing Transactions
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Sold Services on account.
Debit - Accounts Receivable Credit - Sales
Received Cash from the owner as an investment.
Debit - Cash Credit - Capital
Received cash for sales.
Debit - Cash Credit - Sales
Paid Cash to the owner for personal use.
Debit - Drawing Credit - Cash
Paid Cash for insurance.
Debit - Prepaid Insurance Credit - Cash
Paid Cash for Rent.
Debit - Rent Expense Credit - Cash
Brought Supplies on Account.
Debit - Supplies Credit - Accounts Payable
Paid Cash for supplies.
Debit - Supplies Credit - Cash