The following transactions occurred during June for Campus Cycle Shop. Record the transactions below in the T accounts. Place the letter of the transaction next to the entry. Foot and calculate the ending balances of the T accounts where appropriate.

Question

a. Tyler invested $6,500 in the bike service from his personal savings account.
b. Bought office equipment for cash, $900.
c. Performed bike service for a customer on account, $1,000.
d. Company cell phone bill received, but not paid, $80.
e. Collected $500 from customer in transaction c.
f. Tyler withdrew $300 for personal use.
Cash 111
a. Capital $6,500 b. Office Equipment $900
e. Accounts receivable $500 f. Tyler’s Withdrawal $300
c/d $5,800
$7,000
$7,000

Tyler’s Capital
311
a. Cash $6,500

Office Equipment
112
b. Cash $900

Bike fees
411
b. Accounts Receivable $1,000

Accounts Receivable
112
c.. Service Revenue $1,000 e. Cash $500

$1,000 c/d $500

$1,000


Telephone Expense
512
d. Phone Payable $80

Accounts Payable 211
e. Phone Expenses $80

Tyler’s Withdrawals 312
f. Cash $300 b. Office Equipment $900

Let me know if I'm right..