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Unformatted text preview: Quiz 2 Prepare journal entries for each of the transactions presented below for Excellent Consulting. a. Purchased supplies on account, $1,230. Supplies dr 1,230 A/P cr 1,230 b. Paid office salaries, $13,245. Salaries expense dr. 13,245 Cash cr. 13,245 c. Purchased office equipment with cash, $2,730. Equipment dr. 2,730 Cash cr. 2,730 d. The owner of the business transferred cash from a personal account to an account to be used for the business, $1,950. Cash dr. 1,950 Owner, capital cr 1,950 e. Paid creditor on account, $800. Accounts Payable dr. 800 Cash cr. 800...
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- Spring '11
- Accounting, $1,950, $2,730, $1,230, Cash dr. cr, $13,245