Jarrod Automotive, owned and operated by Jarrod Johnson, began business in September of the current year. Jarrod, a mechanic, had no experience with recording business transactions. As a result, Jarrod entered all of September's transactions directly into the ledger accounts. When he tried to locate a particular entry he found it confusing and time consuming. He has hired you to improve his accounting procedures. The accounts in his General Ledger follow: 

What will be an ideal response?

a.Sept. 1 Cash4,200?
?  Equipment800?
?Common Stock?5,000
?To record initial investment.??
????
b.4 Equipment2,550?
?Cash?550
?Notes Payable?2,000
?To record purchase of equipment,
paying $550 in cash and paying a $2,000		??
?note payable for the balance due .??
????
c.9 Accounts Receivable275?
?Revenue?275
?To record credit sale of services.??
????
d.11 Cash150?
?Revenue?150
?To record cash sale of services.??
????
e.15 Cash190?
?Accounts Receivable?190
?To record collection from customer.??

Business

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