1. Record the following selected transactions for April in a two-column journal, identifying each entry by letter:...

Question:

1. Record the following selected transactions for April in a two-column journal, identifying each
entry by letter: (put letter into column of date, such as (a))
(a) Received $18,000 from Katie Long, owner.
(b) Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable
for the remainder.
(c) Paid $2,300 for rent for April.
(d) Purchased $1,500 of supplies on account.
(e) Recorded $9,800 of fees earned on account.
(f) Received $7,500 in cash for fees earned.
(g) Paid $1,200 to creditors on account.
(h) Paid wages of $3,425.
(i) Received $7,900 from customers on account.
(j) Recorded owner's withdrawal of $1,875.
Date Description Post Ref Debit Credit
2. Post all these transactions into T-account and prepare an unadjusted Trial Balance based on the information above
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

Question Posted: