Selected accounts from the general ledger of the Zantex Shipping Service follow. Analyze the following transactions and indicate by number
111 Accounts Receivable
202 Accounts Payable
301 Sam Taylor, Capital
401 Fees Income
511 Rent Expense
514 Salaries Expense
517 Utilities Expense
1. Gave a cash refund of $1,500 to a customer because of a lost package. (The customer had previously paid in cash.)
2. Sent a check for $2,100 to the utility company to pay the monthly bill.
3. Provided services for $15,600 on credit.
4. Purchased new equipment for $9,200 and paid for it immediately by check.
5. Issued a check for $7,000 to pay a creditor on account.
6. Performed services for $10,500 in cash.
7. Collected $12,500 from credit customers.
8. The owner made an additional investment of $50,000 in cash.
9. Purchased supplies for $6,500 on credit.
10. Issued a check for $7,500 to pay the monthly rent.
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!
Step by Step Answer:
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: August 08, 2014 09:16:08