T accounts (accounting)
.Guttery invested $80,000 in cash to start the business.
Paid $3,000 for the current month’s rent.
Bought office furniture for $8,360 in cash.
Performed services for $4,100 in cash.
Paid $625 for the monthly telephone bill.
Performed services for $7,000 on credit.
Purchased a computer and copier for $19,000; paid $6,500 in cash immediately with the balance due in 30 days.
Received $3,500 from credit clients.
Paid $2,000 in cash for office cleaning services for the month.
Purchased additional office chairs for $2,900; received credit terms of 30 days.
Purchased office equipment for $20,000 and paid half of this amount in cash immediately; the balance is due in 30 days.
Issued a check for $4,700 to pay salaries.
Performed services for $7,250 in cash.
Performed services for $8,000 on credit.
Collected $4,000 on accounts receivable from charge customers.
Issued a check for $1,450 in partial payment of the amount owed for office chairs.
Paid $350 to a duplicating company for photocopy work performed during the month.
Paid $610 for the monthly electric bill.
Guttery withdrew $4,500 in cash for personal expenses.