Texts: Question 1
a. Samson, owner, invested $100,750 cash in the company.
e. The company paid $15,000 cash to settle the payable for the equipment purchased in transaction c.
g. The company paid $1,200 cash for the monthly rent.
h. The company collected $5,200 cash as partial payment for the accounts receivable created in transaction f.
Samson withdrew $5,000 cash from the company for personal use.
1. Prepare general journal entries to record the transactions of Samson Company by using the following accounts: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Samson Capital, Samson Withdrawals, Services Revenue, and Rent Expense.
2. Post entries to T-accounts.
3. Prepare the Trial Balance. Use March 31 as its report date.