(Learning Objective 4: Journalize transactions) Journalize the following transactions. Include dates and a brief explanation for each journal entry.July 1: Issued common stock for $13,000July 5: Performed services on account for $8,000July 9: Purchased office supplies on account for $600July 10: Performed services for cash of $3,100July 12: Received payment in full for services performed on account from July 5July 24: Paid in full for office supplies purchased on July 9July 25: Received and paid monthly electric bill of $450July 30: Signed a note payable to purchase office furniture for $2,500July 31: Paid monthly payroll of $3,100
(Learning Objective 4: Journalize transactions) Journalize the following transactions. Include dates and a brief explanation for each journal entry.July 1: Issued common stock for $13,000July 5: Performed services on account for $8,000July 9: Purchased office supplies on account for $600July 10: Performed services for cash of $3,100July 12: Received payment in full for services performed on account from July 5July 24: Paid in full for office supplies purchased on July 9July 25: Received and paid monthly electric bill of $450July 30: Signed a note payable to purchase office furniture for $2,500July 31: Paid monthly payroll of $3,100
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 9PB: Prepare journal entries to record the following transactions. Create a T-account for Cash, post any...
Related questions
Question
(Learning Objective 4: Journalize transactions) Journalize the following transactions. Include dates and a brief explanation for each journal entry.
July 1: Issued common stock for $13,000
July 5: Performed services on account for $8,000
July 9: Purchased office supplies on account for $600
July 10: Performed services for cash of $3,100
July 12: Received payment in full for services performed on account from July 5
July 24: Paid in full for office supplies purchased on July 9
July 25: Received and paid monthly electric bill of $450
July 30: Signed a note payable to purchase office furniture for $2,500
July 31: Paid monthly payroll of $3,100
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning