May

Date
May-01	Collected $1900cash from customer accounts receivable
May-02	Purchased supplies on account that cost $360
May-07	Recorded services of catering to customers and cash receipts were $610 and invoices for services on account were $1800
May-08	The catering job was completed that was paid for in advance on April 9
May-10	Paid the utility company for the monthly utility bills that had been received in the previous month, $340
May-15	Paid $1800 cash for employee salaries
May-15	Purchased a one-year insurance policy for $1200 on the refrigerator
May-16	Paid $220 on the account payable that was established when supplies were purchased on May 2.
May-20	Paid a $400cash dividend to the stockholders
May-27	Received monthly utility bills amounting to $360. The bills would be paid in the month of June
May-31	Recorded revenues to customers. Cash receipts were $900, and invoices for sales on account were $1400
May-31	Paid $1800 cash for employee salaries

1. Record transactions for May in general journal.

2. Open general ledger accounts using T-accounts and post general journal entries to the ledger.

June

Date
June-01	Collected $ 1500 cash from customer accounts receivable
June-02	Purchased supplies on account that cost $ 300
June-07	Recorded services of catering to customers and cash receipts were $ 500 and invoices for services on account were $ 1500.
June-08	Received $ 450 cash as an advance payment on May 10 from a client to be served in June and completed the job on June 8.
June-10	Paid the utility company for the monthly utility bills that had been received in the previous month, $ 360
June-15	Paid $ 1800 cash for employee salaries
June-15	Purchased a one-year insurance policy for $ 1000 on the microwave
June-16	Paid $ 150 on the account payable that was established when supplies were purchased on June 2.
June-20	Paid a $ 300 cash dividend to the stockholders
June-27	Received monthly utility bills amounting to $ 350. The bills would be paid in the month of July
June-31	Recorded revenues to customers. Cash receipts were $ 800, and invoices for sales on account were $ 1350
June-31	Paid $ 1800 cash for employee salaries

1. Record transactions for June in general journal.

2. Post the transactions into T-accounts created for the month of May.

Answer rating: 100% (QA)

May Transactions 1 May 01 Journal Entry Debit Cash 1900 Credit Accounts Receivable 1900 2 May 02 Jou... View the full answer