ACCT 212 Week 2 Homework

ACCT 212 Week 2 Homework.

2. Terrapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $22,400. 2. Provide serv ices to customers and receive cash of $4,700. 3. Pay the current month’s rent of $1,500. 4. Purchase office supplies on account for $1,400. 5. Pay employee salaries of $1,300 for the current month. Required: Record the transactions. Terrapin uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a transaction/event, select “No Journal Entry Required” in the first account field.)