Transactions Dec. 1 2 3 5 10 15 15 16 31 31 31 31 31 Issued common stock for $23,700 cash. Billed clients for $14,300 of work performed. Received payment of $8,900 in advance for work to be performed. Paid rent in advance of $11,800 to cover December through March rent. Bought furniture, paying $5,300 cash and $6,700 notes payable. Received $6,300 from accounts receivable. Incurred salaries expense of $18,700 to be paid at a future date. Paid $780 toward their Accounts Payable. Made an adjustment for revenue of $8,900 that was prepaid and had been earned. Adjusted for rent expired during December. Adjusted for depreciation on furniture, $480. Paid salaries payable and incurred another $18,700 of salaries expense to be paid next month. Post the salaries paid first. Paid $2,600 in Dividends.

Transactions Dec. 1 2 3 5 10 15 15 16 31 31 31 31 31 Issued common stock for $23,700 cash. Billed clients for $14,300 of work performed. Received payment of $8,900 in advance for work to be performed. Paid rent in advance of $11,800 to cover December through March rent. Bought furniture, paying $5,300 cash and $6,700 notes payable. Received $6,300 from accounts receivable. Incurred salaries expense of $18,700 to be paid at a future date. Paid $780 toward their Accounts Payable. Made an adjustment for revenue of $8,900 that was prepaid and had been earned. Adjusted for rent expired during December. Adjusted for depreciation on furniture, $480. Paid salaries payable and incurred another $18,700 of salaries expense to be paid next month. Post the salaries paid first. Paid $2,600 in Dividends.

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Description: Need help with a journal entry D/C Thanks in advance TransactionsDec.1235101515163131313131Issued common stock for $23,700 cash.Billed clients for $14,300 of workperformed.Received payment of $8,900 in advancefor work to be performed.Paid ren

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 9SPB: FINANCIAL RATIOS Use the work sheet and financial statements prepared in Problem 15-8B. All sales...

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