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Step-by-step explanation:To record the transactions for CPAG Services in a two-column journal, follow these steps:Journal EntriesDate: January 3 Cash 700,000 Capital Pagco 700,000 (Investment of cash by Max C. Pagco)Date: January 5 Furniture and Fixtures 60,000 Cash 60,000 (Purchased office furniture for cash)Date: January 8 Equipment 45,000 Accounts Payable 45,000 (Acquired laptop on account)Date: January 10 Cash 35,000 Service Revenues 35,000 (Performed services for cash)Date: January 12 Equipment 12,000 Accounts Payable 6,000 Cash 6,000 (Acquired printer; 50% down payment, balance to be paid in 15 days)Date: January 15 Accounts Receivable 28,000 Service Revenues 28,000 (Performed services on credit)Date: January 18 Cash 20,000 Accounts Payable 20,000 (Made partial payment on laptop)Date: January 19 Accounts Receivable 26,000 Service Revenues 26,000 (Sent bill to client for services rendered)Date: January 22 Cash 28,000 Accounts Receivable 28,000 (Collected in full from client's account dated January 15)Date: January 28 Rental Expense 10,000 Cash 10,000 (Paid the monthly office rental)Date: January 30 Utilities Expense 8,500 Utilities Payable 8,500 (Received utility bills for the month)Date: January 31 Salaries and Wages Expense 22,000 Cash 22,000 (Paid salaries)SummaryIn this journal:- Debits are listed on the left side.- Credits are listed on the right side.Each transaction is recorded with a debit to the appropriate account and a corresponding credit to reflect the nature of the transaction.

Answered by danemariel | 2024-09-01