Puck-drop Sports Training helps train children in various sporting activities. During August 2022, the following transactions...

 

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Puck-drop Sports Training helps train children in various sporting activities. During August 2022, the following transactions took place. Aug 1 Received maintenance bill for $600 which will be paid next month. Aug 3 Received $2,860 cash for training services provided. Aug 6 Borrowed $6,000 cash from the bank. Aug 8 Received $410 from a customer who owed money on training services already provided. Aug 9 Prepaid $1,240 cash for rent for one year. Aug 12 Paid telephone expense of $110 for the month with cash. Aug 21 Paid $830 cash to reduce the amount owed to a supplier. Aug 28 Paid $47 interest on the bank loan. Prepare the journal entries for the above transactions. Puck-drop Sports Training helps train children in various sporting activities. During August 2022, the following transactions took place. Aug 1 Received maintenance bill for $600 which will be paid next month. Aug 3 Received $2,860 cash for training services provided. Aug 6 Borrowed $6,000 cash from the bank. Aug 8 Received $410 from a customer who owed money on training services already provided. Aug 9 Prepaid $1,240 cash for rent for one year. Aug 12 Paid telephone expense of $110 for the month with cash. Aug 21 Paid $830 cash to reduce the amount owed to a supplier. Aug 28 Paid $47 interest on the bank loan. Prepare the journal entries for the above transactions.

Answer rating: 100% (QA)

The journal entries for the given transactions are as follows 1 Aug 1 Mainte... View the full answer