Record each of the following transactions in general journal form and then show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example.
a. Performed $8,200 of services on account.
b. Collected $5,600 cash on accounts receivable.
c. Paid $1,450 cash in advance for an insurance policy.
d. Paid $400 on accounts payable.
e. Recorded the adjusting entry to recognize $300 of insurance expense.
f. Recorded the adjusting entry to recognize $200 accrued interest revenue.
g. Received $1,600 cash for services to be performed at a later date.
h. Purchased land for $9,000 cash.
i. Purchased supplies for $350 cash.

  • CreatedApril 20, 2015
  • Files Included
Post your question