On October 1, 2022, Mary Street started a new business called EconoTravel. EconoTravel has the following chart of accounts: Cash Accounts Payable Revenue Accounts Unearned Revenue Rent Expense Receivable Office Supplies Note Payable Salaries Expense Office Equipment M. Street, Capital Interest Expense Prepaid Rent M. Street, Withdrawals Supplies Expense Prepare journal entries to record the following transactions. For each response, you must indicate the account being debited and credited and the amount (for instance: debit cash $2,000 credit office supplies $2,000 October 1 Received $30,000 cash investment from owner to begin the business Paragraph B Account IUA?? + Debit Credit X
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In this case, the accounts involved are Cash and M.Street, Capital. Show more…
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