Question

owner made a cash investment into the company $3,000
bought supplies on account $100
paid salaries $700
paid for supplies purchased on October 8
received company telephone bill, to be paid later , $ 50

Answer 1

date	particulars	debit	credit
	Cash a/c                                         Dr      To capital a/c	3,000	3,000
	Supplies a/c                                  Dr      To account payables	100	1,00
	Salaries a/c                                   Dr      To cash a/c	700	700
	Accounts payable                        Dr      To cash a/c	100	100
	Telephone expenses                  Dr.      To telephone payable	50	50