0 Reference - X Mighty Delivery Service Balance Sheet December 31, 2018 Assets Current Assets: Cash Accounts Receivable Office Supplies Prepaid Insurance Total Current Assets Plant Assets Truck Less: Accumulated DepreciationTruck 25,140 2,350 150 240 $ 27,880 12,000 (190) Total Plant Assets 11,810 S 39,690 Total Assets Liabilities A Current Liabilities: Salaries Payable Unearned Revenue Total Liabilities 700 1,400 2,100 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity 32,000 5,590 37,590 Print Done Mighty Delivery Service has completed closing entries and the accounting cycle for 2018. The classified balance sheet on December 31, 2018 follows: (Click the icon to view the December balance sheet.) The business is now ready to record January 2019 transactions. (Click the icon to view the transactions.) Read the requirements Requirement 1. Record each January transaction in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Jan. 3: Collected $700 cash from customer on account. More Info Date Accounts Debit Credit Jan. 3 Cash 700 Accounts Receivable 700 Jan. 3 Collected $700 cash from customer on account. 5 Purchased office supplies on account, $400. 12 Performed delivery services for a customer and received $2,500 cash. Jan. 5. Purchased office supplies on account, $400 15 Paid employee salary including the amount owed on December 31, $3,300. (The total cash paid of $3,300 includes the amount owed on Date Accounts Debit Credit December 31.) Jan. 5 Insurance Expense 400 18 Performed delivery services on account, $950. Cash 20 Paid $350 on account. 400 24 Purchased fuel for the truck, paying $350 cash. 27 Completed the remaining work due for Unearned Revenue. 28 Paid office rent, $1,600, for the month of January 30 Collected $3,200 in advance for delivery service to be performed later. 31 Cash dividends of $2,000 were paid to stockholders. Print Done