E3-1 (Transaction Analysis—Service Company) Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.EXERCISESApril 2 2 3 7 1112 17 21 30 30 30InstructionsInvested $32,000 cash and equipment valued at $14,000 in the business. Hired a secretary-receptionist at a salary of $290 per week payable monthly. Purchased supplies on account $700. (Debit an asset account.) Paid office rent of $600 for the month.Completed a tax assignment and billed client $1,100 for services rendered. (Use Service Revenue account.) Received $3,200 advance on a management consulting engagement. Received cash of $2,300 for services completed for Ferengi Co.Paid insurance expense $110. Paid secretary-receptionist $1,160 for the month. A count of supplies indicated that $120 of supplies had been used. Purchased a new computer for $6,100 with personal funds. (The computer will be used exclusively for business purposes.)Journalize the transactions in the general journal. (Omit explanations.)
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