Exercise 2-8 Record transactions (LO4)
| Terapin Company engages in the following external transactions for November. |
| 1. | Purchase equipment in exchange for cash of $21,300. |
| 2. | Provide services to customers and receive cash of $6,100. |
| 3. | Pay the current month's rent of $900. |
| 4. | Purchase office supplies on account for $1,500. |
| 5. | Pay employees' salaries of $1,300 for the current month. |
| Required: |
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Record the transactions. Terapin uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)
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