Prepare journal entries for each of the following transactions: 1. Pay $700 for radio advertising for the
Question:
Prepare journal entries for each of the following transactions:
1. Pay $700 for radio advertising for the current month.
2. Purchase supplies of $1,300 on account.
3. Provide services of $2,900 to customers and receive cash.
4. Pay employee salaries for the current month of $900.
5. Provide services of $1,000 to customers on account.
6. Pay utility bill for the current month of $300.
Step by Step Answer:
1 Debit Credit Advertising Expense 700 Cash 700 Pay advertising for current month 2 S...View the full answer
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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