Professor Quark opens his own company, Electronic Tutorial Services

Professor Quark opens his own company, Electronic Tutorial Services

Professor Quark opens his own company, Electronic Tutorial Services Professor Quark opens his own company, Electronic Tutorial Services, and completesthe following transactions in June:6/1 Quark invests $12,000 into the business.6/3 Purchased $1,800 of equipment on account.6/4 Paid $360 premium for a two-year insurance policy.6/6 Purchased office supplies for cash, $300.6/9 Purchased a new computer for $7,500. Paid $1,500 cash agreed to pay the remainderin 30 days.6/10 Billed student Fiona Smith $40 for tutorial services that were performed.6/14 Paid for the equipment purchased on June 3rd.6/25 Received $35 cash from student Bert Bantrum for tutorial services performed.6/30 Student billed on June 10 pays the amount due to Quark.6/30 Quark withdraws $500 for personal use.Required: Prepare the journal entries to record these transactions.

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