Journal Entries and Trial Balance On August 1, 2017, Rafael Masey established Planet Realty, which completed the following transactions during the month:
a. Rafael Masey transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $18,000.
b. Purchased supplies on account, $990.
c. Earned sales commissions, receiving cash, $15,300.
d. Paid rent on office and equipment for the month, $3,370.
e. Paid creditor on account, $370.
f. Paid dividends, $900.
g. Paid automobile expenses (including rental charge) for month, $930, and miscellaneous expenses, $630.
h. Paid office salaries, $1,960.
i. Determined that the cost of supplies used was $550.
Required:
1. Journalize entries for transactions (a) through (1), using the following account titles: Cash, Supplies, Accounts Payable, Common Stock,
Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense. If an
amount box does not require an entry, leave it blank.
b.
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