SWFT Comprehensive Vol 2020
43rd Edition
ISBN: 9780357391723
Author: Maloney
Publisher: Cengage
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Hello, can you help me figure out what I am doing wrong? I have attatched my current answer and the options I have for each drop down line. Thanks!
Drop down options:
- No
Journal Entry Required - Accounts Payable
Accounts Receivable - Advertising Expense
- Buildings
- Cash
- Common Stock
- Deferred Revenue
- Delivery Expense
- Dividends
- Entertainment Expense
- Equipment
- Insurance Expense
- Interest Payable
- Interest Receivable
- Interest Revenue
- Inventory
- Land
- Legal Fees Expense
- Notes Payable
- Notes Receivable
- Prepaid Insurance
- Prepaid Rent
- Rent Expense
- Repairs and Maintenance Expense
Retained Earnings - Salaries Expense
- Salaries Payable
- Sales Revenue
- Service Fee Expense
- Service Revenue
- Supplies
- Supplies Expense
- Utilities Expense
- Utilities Payable
![Required information
[The following information applies to the questions displayed below.]
Joan owns a lawn maintenance company, and Sally owns a machine repair shop. For the month of July, the following
transactions occurred.
July 3
July 6
July 9
July 14
Joan provides lawn services to Sally's repair shop on account, $300.
One of Joan's mowers malfunctions. Sally provides repair services to Joan on account, $250.
Sally pays $300 to Joan for lawn services provided on July 3.
Sally borrows $400 from Joan by signing a note.
Joan purchases advertising in a local newspaper for the remainder of July and pays cash, $120.
Joan pays $250 to Sally for services provided on July 6.
July 18
July 20
July 27
Sally performs repair services for other customers for cash, $600.
July 30
Sally pays employee salaries for the month, $100.
July 31
Sally pays $400 to Joan for money borrowed on July 14.
Required:
1. Record each transaction for Sally's Repair Shop. Keep in mind that Sally may not need to record all transactions. (If no entry is
required for a transaction/event, select "No Journal Entry Required" in the first account field.)](https://content.bartleby.com/qna-images/question/96b32fde-407b-49e4-a18f-1c1f9aa1a58e/b7063c50-9791-424b-acf9-31a83e2ea7ce/zz4mf1_processed.png)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Joan owns a lawn maintenance company, and Sally owns a machine repair shop. For the month of July, the following
transactions occurred.
July 3
July 6
July 9
July 14
Joan provides lawn services to Sally's repair shop on account, $300.
One of Joan's mowers malfunctions. Sally provides repair services to Joan on account, $250.
Sally pays $300 to Joan for lawn services provided on July 3.
Sally borrows $400 from Joan by signing a note.
Joan purchases advertising in a local newspaper for the remainder of July and pays cash, $120.
Joan pays $250 to Sally for services provided on July 6.
July 18
July 20
July 27
Sally performs repair services for other customers for cash, $600.
July 30
Sally pays employee salaries for the month, $100.
July 31
Sally pays $400 to Joan for money borrowed on July 14.
Required:
1. Record each transaction for Sally's Repair Shop. Keep in mind that Sally may not need to record all transactions. (If no entry is
required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Transcribed Image Text:> Answer is not complete.
No
1
Date
July 03
General Journal
Accounts Receivable
Service Revenue
2
July 06
Repairs and Maintenance Expense
Accounts Payable
3
July 09
Cash
Accounts Receivable
Debit
Credit
300
300
250
250
300
300
4
July 14
Notes Receivable
Cash
400
400
5
July 18
Advertising Expense
120
Cash
120
6
July 20
Accounts Payable
Cash
250
250
7
July 27
No Journal Entry Required
8
July 30
No Journal Entry Required
6
July 31
Cash
Notes Receivable
×
400
400
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