Exercise two

(1) The first month transactions of Savanah Company was the

following:
1- Invested $30,000 cash in business
2- Paid $500 cash for advertising
3- Purchased equipment for $7000 on cash
4- Sold $4000 inventory to customers on account
5- Purchased supplies on account for $700
6- Received $3200 cash from customers in transaction 4
7- Paid creditors $400 cash on balance owed
8- withdrew $1500 cash for personal use
9- borrowed $5000 from the bank by signing a note
10- paid $2000 for a computer
11- paid salaries of 600 for the employee
Instructions
Journalize the transactions

(2) Maria Juarez is a licensed dentist. During the first month of

the operation of her business, the following events and
transactions occurred.
Invested $40000 cash
Hired a secretary-receptionist at salary of $600 per week
payable monthly
Paid office rent for the month $1000
Purchased dental supplies on account from smile company
$4000
Provide dental service and billed insurance companies $5100
Received $1000 cash advance from Trudy Borke for an
implant
Received $2100 cash for service completed and delivered to
john Stanley.
Paid secretary-receptionist for the month $2400
Paid $1600 to smile company for account payable due
Instructions
Journalize the transactions