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Value Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Capital Stock, Retained Earnings, Dividends, Fees Earned, Rent Expense, Advertising Expense, Utilities Expense, Miscellaneous Expense.Journalize the following selected transactions for July 2014 in a two-column journal.Journal entry explanations may be omitted. July 1. Paid rent for the month, $3,200.3. Paid advertising expense, $750.5. Paid cash for supplies, $1,300.6. Purchased office equipment on account, $12,500.10. Received cash from customers on account, $11,400.15. Paid creditor on account, $1,175.27. Paid cash for repairs to office equipment, $600.30. Paid telephone bill for the month, $180.31. Fees earned and billed to customers for the month, $33,760.31. Paid electricity bill for the month, $1,300.31. Paid dividends, $4,000.View Solution:
Value Consulting Co has the following accounts in its ledger

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