AWESOME AND FUN accounting cycle case studies: CASE 3: General Journal, General Ledger, Income Statement, Balance Sheet, Unadjusted Trial Balance Sheet, Adjusted Trial Balance Sheet, Post-closing Trial Balance?

1 Record the following entries for the month of May in the General Journal (G) pages J1 and J2

1 Invested $25,000 cash in exhange for Common Stock

1 Paid cash $1,200 for 12 month insurance policy

3 Paid cash for various expenses $3,000

5 Purchased supplies $2,000 on account.

10 Paid cash for office equipment $3,600.

17 Paid $1,000 cash to creditor

20 Revenue from designing several pools $12,000, Received $7,000 cash, remainder on account.

22 Received $900 cash from customer for future work

24 Received $1,000 cash from customer paying down account

25 Social media "likes" exceed 5000. Marketing anticipates a sales bump of $1 per like.

30 Board of Directors declared and paid cash Dividend $1,000