Mary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts...
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Mary Sunny began business as Sunny Law Firm on November 1. Record

the following November transactions by making entries directly to the T-accounts provided. Next, make a trial balance as of November 30.


Part A . Mary invested $15,000 cash and a law library valued at $6,000.

Part B . Purchased $7,500 of office equipment from John Bronx on credit.

Part C . Completed legal work for a client and received $1,500 cash in full payment.

Part D . Paid John Bronx $3,500 cash in partial payment of the amount owed.

Part E . Completed $4,000 of legal work for a client on credit.

Part F. Mary withdrew $2,000 cash from the business for personal use.

Part G . Received $2,500 cash as partial payment for the legal work completed for the client in (e).

Part H.  Paid $2,500 cash for the secretary's salary. 

 

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