EX 2-14 Journal entries

Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which
the postings were made. Journal entry explanations may be omitted.

Answer:
(1) Cash..................................................................... 40,000
                        Mickey O’Dell, Capital ................................... 40,000
 (2) Supplies............................................................... 2,000
                         Cash................................................................ 2,000
 (3) Equipment ........................................................... 18,000
                           Accounts Payable.......................................... 14,400
                          Cash................................................................ 3,600
 (4) Operating Expenses........................................... 2,700
                         Cash................................................................ 2,700
 (5) Accounts Receivable.......................................... 18,500
                          Service Revenue............................................ 18,500
 (6) Accounts Payable............................................... 9,000
                         Cash................................................................ 9,000
 (7) Cash..................................................................... 10,000
                          Accounts Receivable .................................... 10,000
 (8) Operating Expenses........................................... 1,050
                          Supplies ......................................................... 1,050
 (9) Mickey O’Dell, Drawing ...................................... 4,000
                         Cash................................................................ 4,000