During the month of September, the following transactions were completed: Sept. 8 Paid $1,400 for salaries due
Question:
During the month of September, the following transactions were completed:
Sept. 8 Paid $1,400 for salaries due employees, of which $900 is for September.
10 Received $1,200 cash from customers on account.
12 Received $3,400 cash for services performed in September.
15 Purchased store equipment on account $3,000.
17 Purchased supplies on account $1,200.
20 Paid creditors $4,500 on account.
22 Paid September rent $500.
25 Paid salaries $1,250.
27 Performed services on account and billed customers $2,100 for these services.
29 Received $650 from customers for future services.
Journalize the September transactions in the general journal Here are the journal entries for the transactions in September: Sept. 8: Salaries Expense 900 Salaries & Wages Payable 900 (To record salaries due for September)
Sept. 10: Cash 1,200 Accounts Receivable 1,200 (To record cash received from customers on account)
Sept. 12: Cash 3,400 Service Revenue 3,400 (To record cash received for services performed in September)
Sept. 15: Store Equipment 3,000 Accounts Payable 3,000 (To record the purchase of store equipment on account)
Sept. 17: Supplies 1,200 Accounts Payable 1,200 (To record the purchase of supplies on account)
Sept. 20: Accounts Payable 4,500 Cash 4,500 (To record payment to creditors on account)
Sept. 22: Rent Expense 500 Cash 500 (To record payment of September rent)
Sept. 25: Salaries Expense 1,250 Cash 1,250 (To record payment of salaries)
Sept. 27: Accounts Receivable 2,100 Service Revenue 2,100 (To record services performed on account and billed to customers)
Sept. 29: Cash 650 Unearned Revenue 650
General Journal | ||||
Date | Account/Explanation | Debit | Credit | |
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso