Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings were made

Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings were made. Journal entry explanations may be omitted.

Answer:

(1) Cash 75,000  Luis Chavez, Capital  75,000  (2) Supplies 4,000  Cash  4,000  (3) Equipment 25,000  Accounts Payable  22,000 Cash  3,000  (4) Operating Expenses 2,700  Cash  2,700  (5) Accounts Receivable 19,500  Service Revenue  19,500  (6) Accounts Payable 9,000  Cash  9,000  (7) Cash 11,000  Accounts Receivable  11,000  (8) Operating Expenses 2,000  Supplies  2,000  (9) Luis Chavez, Drawing 5,000  Cash  5,000