In: Accounting
Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable $ 725 Accounts Receivable 2,200 Cash 2,200 Common Stock 20,000 Equipment 2,900 Note Payable 4,200 Retained Earnings 4,411 Salaries and Wages Expense 4,700 Supplies 1,540 Required: Prepare journal entries for each of the following January activities, and post results to the relevant T-accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) A. Paid $725 on account for utilities that were used during December Year 1. B. Purchased $483 of supplies for cash. C. Signed a rental agreement for office space and paid $5,900 in advance for six months of rent beginning February 1, Year 2. D. Purchased $17,500 of new equipment, signing a promissory note. E. Provided $32,000 of services. $19,000 was received in cash and $13,000 was provided on credit. F. Paid workers $7,200 for work done in January.