Journal Date Description Debits Credits 1980 July 1 Cash in Bank 250.00 Capital, J. Smith 250.00 To record initial investment by owner. Aug 3 Supplies 75.00 Accounts Payable 75.00 To record purchase of supplies on account. Sep 10 Cash in Bank 1,200.00 Service Revenue 1,200.00 To record fees earned for services rendered. Oct 15 Rent Expense 400.00 Cash in Bank 400.00 To record payment of rent expense. Nov 20 Utilities Expense 85.00 Accounts Payable 85.00 To record utilities incurred but not yet paid. Dec 31 Interest Expense 50.00 Cash in Bank 50.00 To record payment of interest expense. Total Debits: 2,060.00 Total Credits: 2,060.00