The transactions of Spade Company appear below.a. Kacy Spade, the owner, invested $18,750 cash in the company in exchange for common stock.b. The company purchased office supplies for $544 cash.c. The company purchased $10,369 of office equipment on credit.d. The company received $2,212 cash as fees for services provided to a customer.e. The company paid $10,369 cash to settle the payable for the office equipment purchased in transaction c.f. The company billed a customer $3,975 as fees for services provided.g. The company paid $535 cash for the monthly rent.h. The company collected $1,670 cash as partial payment for the account receivable created in transaction f.i. The company paid $1,100 cash in dividends to the owner (sole shareholder).Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.a. Cash (debit) 18,750; Common Stock (credit) 18,750b. Office supplies (debit) 544; Cash (credit) 544c. Office equipment (debit) 10,369; Accounts payable (credit) 10,369d. Cash (debit) 2,212; Fees earned (credit) 2,212e. Accounts payable (debit) 10,369; Cash (credit) 10,369f. Accounts receivable (debit) 3,975; Fees earned (credit) 3,975g. Rent expense (debit) 535; Cash (credit) 535h .Cash (debit) 1,670; Accounts receivable (credit) 1,670i. Dividends (debit) 1,100; Cash (credit) 1,100
