Herb Tyler decided to open a fitness centre. Journalize the following transactions, using the journal below....
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Herb Tyler decided to open a fitness centre. Journalize the following transactions, using the journal below. Provide explanations for each transaction. Sept. 2 Herb invested $20 000 cash in the business. DATE 2 Exercise equipment costing $5 000 was purchased from Buy-Cep Wholesalers Ltd. A cash payment of $2.000 was made (Cheque No. 62) and the balance is to be paid in 30 days. 8 Fees earned amounted to $600 cash. 9 Bought office supplies ($360) from Office Outfitters on account (terms net 30 days). 25 Paid the monthly utility bill with Cheque No. 63 for $175. 30 Herb used the business's bank account to pay the rent on his penthouse apartment (Cheque No. 64 for $1 400). GENERAL JOURNAL PARTICULARS PR DEBIT CREDIT Herb Tyler decided to open a fitness centre. Journalize the following transactions, using the journal below. Provide explanations for each transaction. Sept. 2 Herb invested $20 000 cash in the business. DATE 2 Exercise equipment costing $5 000 was purchased from Buy-Cep Wholesalers Ltd. A cash payment of $2.000 was made (Cheque No. 62) and the balance is to be paid in 30 days. 8 Fees earned amounted to $600 cash. 9 Bought office supplies ($360) from Office Outfitters on account (terms net 30 days). 25 Paid the monthly utility bill with Cheque No. 63 for $175. 30 Herb used the business's bank account to pay the rent on his penthouse apartment (Cheque No. 64 for $1 400). GENERAL JOURNAL PARTICULARS PR DEBIT CREDIT
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Journalize the following transactions as follows General Ledg... View the full answer
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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