High School
Record the following selected transactions for January in a twocolumn journal. Once you have completed that, answer questions 1 5 related to your work. (a) Earned $7,000 fees; customer will pay later.(b) Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit(c) Paid $3,000 for rent for January.(d) Purchased $2,500 of supplies on account.(e) A. Allen $1,000 investment in the company.(f) Received $7,000 in cash for fees earned previously.(g) Paid $1,200 to creditors on account.(h) Paid wages of $6,250.(i) Received $7,150 from customers on account.(j) A. Allen withdrawal of $1,750.2. For part (h), which two accounts are affected?Question 2 options:Fees Earned and CashWages Expense and CashAccounts Payable and CashRent Expense and Cash