Make journal entries...? 1. Owner invests $15,000 cash in the business. 2. Softbyte purchases computer equipment $7,000

Make journal entries...?

 

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1. Owner invests $15,000 cash in the business. 2. Softbyte purchases computer equipment $7,000 cash. 3. Softbyte purchases $1,600 headsets and other accessories, expected to last several months, on account. 4. Softbyte receives $1,200 cash from customers for app development services it has performed. 5. Softbyte receives a bill for $250 from the Daily News for advertising on its online website but postponed payment until a later date. 6. Softbyte performs $3,500 of service. The company receives cash of $1,500 from customers, and it bills the balance of $2,000 on account. 7. Softbyte pays the following expenses in cash for September: Office rent $600, Salaries and Wages for employees $900, utilities $200. 8. Softbyte pays its $250 Daily News bill, from transaction 5, in cash. 9. Softbyte receives $600 in cash from customers who had been billed for services in transaction 6. 10. The owner withdraws $1,300 in cash from the business for personal use. 1. Owner invests $15,000 cash in the business. 2. Softbyte purchases computer equipment $7,000 cash. 3. Softbyte purchases $1,600 headsets and other accessories, expected to last several months, on account. 4. Softbyte receives $1,200 cash from customers for app development services it has performed. 5. Softbyte receives a bill for $250 from the Daily News for advertising on its online website but postponed payment until a later date. 6. Softbyte performs $3,500 of service. The company receives cash of $1,500 from customers, and it bills the balance of $2,000 on account. 7. Softbyte pays the following expenses in cash for September: Office rent $600, Salaries and Wages for employees $900, utilities $200. 8. Softbyte pays its $250 Daily News bill, from transaction 5, in cash. 9. Softbyte receives $600 in cash from customers who had been billed for services in transaction 6. 10. The owner withdraws $1,300 in cash from the business for personal use.

Answer rating: 100% (QA)

A B 1 2 Date 3 1 Cash 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 2 3 Supplies Accou... View the full answer