Dec. 1 Cosmo contributed $16,000 cash in exchange for capital. 2 Received $2,000 cash from customers for services performed. 5 Paid $600 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $6,500. 10 Received $550 invoice for utilities due in two weeks. 15 Paid for advertising in the local paper, $425. 20 Paid utility invoice received on Dec. 10. 25 Collected cash in full from customer billed on Dec. 9. 28 Paid rent for the month, $2,600. 28 Paid $1,500 to assistant for wages. 30 Received $1,400 cash from customers for services performed. 31 Cosmo withdrew $2,500.
Dec. 1 Cosmo contributed $16,000 cash in exchange for capital. 2 Received $2,000 cash from customers for services performed. 5 Paid $600 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $6,500. 10 Received $550 invoice for utilities due in two weeks. 15 Paid for advertising in the local paper, $425. 20 Paid utility invoice received on Dec. 10. 25 Collected cash in full from customer billed on Dec. 9. 28 Paid rent for the month, $2,600. 28 Paid $1,500 to assistant for wages. 30 Received $1,400 cash from customers for services performed. 31 Cosmo withdrew $2,500.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter5: Closing Entries And The Post-closing Trial Balance
Section: Chapter Questions
Problem 1ACRPB: This problem is designed to enable you to apply the knowledge you have acquired in the preceding...
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