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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Create a general journal entry for all of these transactions included.

Transcribed Image Text:e 12:21 PM Tue Oct 12
K.
Use the following Chart of Accounts to complete:
Assets: Cash, Accounts Receivable Sally Dotts, Accounts Receivable - Sue Jones,
Accounts Receivable - Paul Monroe, Accounts Receivable Don Smith, Supplies, Prepaid Insurance
Liabilities: Accounts Payable - Supplies R Us
Owner's Equity: John Ewe- Capital, John Ewe - Drawing
Revenue: Sales
Expense: Fuel Expense, Miscellaneous Expense, Rent Expense, Utilities Expense
Record the following transactions:
August 1: Cash received from owner, John Ewe, as an investment $20,000, receipt 1.
August 2: Paid cash for utilities $100, check 4
August 3: Bought six months insurance $575, check 5
August 3: Received payment on account from customer Paul Monroe $1,000, receipt 2.
August 4: Paid cash for rent $400, check 6.
August 8: Paid cash for miscellaneous expense $50, check 7.
August 8: Paid cash for fuel expense $70, check 8.
August 10: Received payment on account from customer Sally Dotts $400, receipt 3.
August 11: Purchased supplies on account from Supplies R Us $250, memorandum 3.
August 12: Sold services on account to customer Sue Jones $2,000, sales invoice 10.
August 20: John Ewe withdrew cash from business for personal use $1,000, check 9
August 20: Paid cash on account to Supplies R Us $250, check 10
August 22: Sold services on account to customer Don Smith $2,000, sales invoice 11.
August 30: Received payment on account from customer Don Smith $1,000, receipt 4.
August 30: Business earned cash sales of $5,500, cash register tape 30.
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