The accounts with identification letters for Smart Delivery Services are listed below.LetterAccount TitleLetterAccount TitleACashISmart, DrawingBAccounts ReceivableJDelivery Fee IncomeCSuppliesKAdvertising ExpenseDPrepaid RentLEquipment Repairs ExpenseEDelivery EquipmentMRent ExpenseFOffice EquipmentNSalaries ExpenseGAccounts PayableOUtilities ExpenseHSmart, 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 for $3,200 on account????C. Received a bill for $960 for equipment repairs that will be paid next month????D. Performed delivery services for $12,800; received $4,400 in cash immediately and the remainder was on account ????E.Issued check for $500 for a newspaper advertisement????F.Issued check for $750 for current month's utilities????G.The owner withdrew $1,500 cash for personal use????H.Received $900 on account from credit clients????
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 for $3,200 on account | E | 3,200 | G | 3,200 |
| C. | Received a bill for $960 for equipment repairs that will be paid next month | L | 960 | G | 960 |
| D. | Performed delivery services for $12,800; received $4,400 in cash immediately and the remainder was on account | A B | 4,000 8,800 | J | 12,800 |
| E. | Issued check for $500 for a newspaper advertisement | K | 500 | A | 500 |
| F. | Issued check for $750 for current month's utilities | O | 750 | A | 750 |
| G. | The owner withdrew $1,500 cash for personal use | I | 1,500 | A | 1,500 |
| H. | Received $900 on account from credit clients | A | 900 | B | 900 |
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