Journalize the transactions below using the following account titles:
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Cash
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Capital Stock
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Rent expense
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Accounts Receivable
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Dividends
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Automobile expense
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Supplies
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Sales Commissions
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Supplies expense
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Accounts Payable
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Office Salaries Expense
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Misc. expense
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2) Prepare T-accounts and post the entries to the appropriate accounts. Determine balances after all entries are posted.
a) Issued capital stock for $16,000.
b) Paid rent on office building for the month, $3,000.
c) Purchased supplies on account, $1,200.
d) Paid creditor on account, $800.
e) Earned sales commissions and sent invoices to customers, $22,500.
f) Paid automobile expenses for month, $2,900, and miscellaneous expenses, $1,450.
g) Paid office salaries, $4,200.
h) Determined the cost of supplies used was $960.
i) Paid cash dividends, $1,400.