ransactions:
1. Tran Lee invested $15,000 cash in the business.
2. Paid $750 rent for the month.
3. Purchased sewing equipment for $1,750.
4. Purchased sewing supplies, $250, on account from Eastern Notions Company.
5. Received $189 for alterations.
6. Completed a large tailoring job and received $1,149 for services.
7. Tran Lee withdrew $200 for personal use.
8. Did tailoring work on account for $256.
9. Paid $150 on account owed to Eastern Notions Company.

(1) Prepare a T account for each account used by Lee's Tailoring Service.
(2) Analyze each transaction and record the transaction in the appropriate T accounts.
(3) After recording all the transactions, compute the balance of each account. Indicate the normal
balance by writing "Balance" on the normal balance side of the account.
(4) Test the equality of debits and credits.
(Record the transactions in the given order. Be sure to list the assets, liabilities and owner's equity in order of their liquidity. Omit the "$" sign in your response.)


General Ledger
Cash in Bank


(1)
$
15,000

(2)
$
750


(5)
189

(3)
1,750


(6)
1,149

(7)
200


(9)
150

Balance $
13,488



Accounts Receivable


(8)
$
256

Balance $
256



Sewing Supplies


(4)
$
250

Balance $
250



Sewing Equipment


(3)
$
1,750

Balance $
1,750



Accounts Payable


(9)
$
150

(4)
$
250

Balance $
100



Tran Lee, Capital


(1)
$
15,000

Balance $
15,000



Tran Lee, Withdrawals


(7)
$
200

Balance $
200



Tailoring Fees


(5)
$
189


(6)
1,149


(8)
256

Balance $
1,594



Rent Expense


(2)
$
750

Balance $
750




Account Name Debit Credit

Cash in Bank
$
13,488


Accounts Receivable
$256


Sewing Supplies
$250


Sewing Equipment
$1,750


Accounts Payable
$100


Rent Expense
750



$
30,338





Cash in Bank
$
$13,488


Accounts Payable

$100


Tran Lee, Capital

$15,000


$
28,588





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