T accounts
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)