FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Lavender Company started its business on April 1, 2019. Using the following accounts, prepare the journal entries below in the General Journal.

PLEASE NOTE: For similar accounting treatment (DR or CR), you are to record accounts in the order in which they are mentioned in the transactions.

Cash Petty Cash Accounts Receivable Office Supplies Computer Equipment
Accounts Payable Unearned Services Income Services Income Lavender, Capital Dividends
Maintenance Expense Miscellaneous Expense Rent Expense Wages Expense Cash Short and Over

The following are the transactions that happened during the month of April.

PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345).

  • The owner invested $7,500 from their personal account to the business account
  • DR    
    CR    
  • Paid rent $600 with check #101.
    DR    
    CR    
  • Initiated a petty cash fund $250 check #102.
    DR    
    CR    
  • Received $350 cash for services rendered.
    DR    
    CR    
  • Purchased office supplies for $125 with check #103.
    DR    
    CR    
  • Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days.
    DR    
    CR    
    CR    
  • Received $750 cash for services rendered.
    DR    
    CR    
  • Paid wages $375, check #105.
    DR    
    CR    
  • Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106.
    DR    
    DR    
    DR    
    DR or CR?     
    CR    
  • Increased Petty Cash by $70, check #107.
    DR    
    CR    
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