T accounts

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Received invoice for blueprint service, due in August, $1,500.

Blueprint Service (debit side) Accounts Payable (credit side)

Purchased used automobile for $30,000, paying $4,000 cash and giving a note payable for the remainder.

Cash (4000 on credit side) Auto (30000 on debit side) Notes Payable (subtracted total on credit side)

Paid cash to creditors on account, $3,500.

Cash (credit side) Accounts Payable (debit side)

Paid gas, oil, and repairs on automobile for July, $815.

Cash (credit side) Auto expense (debit side)

Paid cash for miscellaneous expenses, $300.

Cash (credit side) Misc Expense (debit side)

Paid installment due on note payable, $550.

Cash (credit side) Notes payable (debit side)

Paid cash for annual insurance policies, $2,400

Cash (credit side) Prepaid insurance (debit side)

Paid July rent for office and workroom, $2,750.

Cash (credit side) Rent expense (debit side)

Paid salary of assistant, $2,200.

Cash (credit side) Salary expense (debit side)

Paid cash for supplies, $1,600.

Cash (credit side) Supplies (debit side)

Transferred cash from a personal bank account to an account to be used for the business, $25,000.

Cash (debit side) Capital (credit side)

Received cash from client for plans delivered, $11,150.

Cash (debit side) Professional Fees (credit side)

Purchased office and computer equipment on account, $9,000.

Equipment (debit side) Account Payable (credit side)

Recorded fee earned on plans delivered, payment to be received in August, $17,300.

Professional fees (credit side) Accounts receivable (debit side)


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