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The Following Transactions Occurred During June for Campus Cycle Shop

Question 130

Essay

The following transactions occurred during June for Campus Cycle Shop.Record the transactions below in the T accounts.Place the letter of the transaction next to the entry.Foot and calculate the ending balances of the T accounts where appropriate.
a.Tyler invested $6,500 in the bike service from his personal savings account.
b.Bought office equipment for cash,$900.
c.Performed bike service for a customer on account,$1,000.
d.Company cell phone bill received,but not paid,$80.
e.Collected $500 from customer in transaction c.
f.Tyler withdrew $300 for personal use. The following transactions occurred during June for Campus Cycle Shop.Record the transactions below in the T accounts.Place the letter of the transaction next to the entry.Foot and calculate the ending balances of the T accounts where appropriate. a.Tyler invested $6,500 in the bike service from his personal savings account. b.Bought office equipment for cash,$900. c.Performed bike service for a customer on account,$1,000. d.Company cell phone bill received,but not paid,$80. e.Collected $500 from customer in transaction c. f.Tyler withdrew $300 for personal use.

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