The transactions of Belle Co.’s appear below.
D. Belle created a new business and invested $6,200 cash, $6,000 of equipment, and $13,800 in web servers in exchange for common stock.
The company paid $4,800 cash in advance for prepaid insurance coverage.
The company purchased $700 of supplies on credit.
The company paid $700 cash for selling expenses.
The company received $4,600 cash for services provided.
The company paid $700 cash toward accounts payable.
The company paid $3,000 cash for equipment.
Exercise 2-17 (Algo) Entering transactions into T-accounts LO A1
Fill in each of the following T-accounts for Belle Co.’s seven transactions listed here. The T-accounts represent Belle Co.’s general ledger. Code each entry with transaction number 1 through 7 (in order) for reference.