The accounts with identification letters for Orly Delivery Services are listed below.LetterAccount TitleLetterAccount TitleACashIOrly, DrawingBAccounts ReceivableJDelivery Fee IncomeCSuppliesKAdvertising ExpenseDPrepaid RentLEquipment Repairs ExpenseEDelivery EquipmentMRent ExpenseFOffice EquipmentNSalaries ExpenseGAccounts PayableOUtilities ExpenseHOrly, Capital??During the current month, the company completed the transactions listed below. Indicate the appropriate journal entry that needs to be recorded for each transaction by providing the account letter and amount. Some entries may need more than one debit and/or more than one credit. The first transaction is completed as an example. ??DebitCredit?TransactionLetterAmountLetterAmountA.The owner invested $25,000 cash in the
businessA$25,000H$25,000B.Purchased delivery equipment on account $16,500.????C.Performed delivery services for $6,200 cash????D.Issued check for $7,200 to pay the rent for six months????E.Issued check for $360 to purchase supplies ????F.Issued check for $4,000 in partial payment of the delivery equipment purchased in 'B' above????G. Purchased an advertisement space in the local newspaper for $600 for one month????
What will be an ideal response?
| ? | ? | Debit | Credit | ||
| ? | Transaction | Letter | Amount | Letter | Amount |
| A. | The owner invested $25,000 cash in the business | A | $25,000 | H | $25,000 |
| B. | Purchased delivery equipment on account $16,500. | E | 16,500 | G | 16,500 |
| C. | Performed delivery services for $6,200 cash | A | 6,200 | J | 6,200 |
| D. | Issued check for $7,200 to pay the rent for six months | D | 7,200 | A | 7,200 |
| E. | Issued check for $360 to purchase supplies | C | 360 | A | 360 |
| F. | Issued check for $4,000 in partial payment of the delivery equipment purchased in 'B' above | G | 4,000 | A | 4,000 |
| G. | Issued a check to purchase an advertisement space in the local newspaper for $600 for one month | K. | 600 | A | 600 |
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