Question: Exercise 2 - 2 0 ( Algo ) Record transactions, post to T - accounts, and prepare a trial balance ( LO 2 - 4

Exercise 2-20(Algo) Record transactions, post to T-accounts, and prepare a trial balance (LO2-4,2-5,2-6)
Bluestreak Painting Company incurs the following transactions for September.
September 3 Paint houses in the current month for $19,500 on account.
September 8 Purchase painting equipment for $20,500 cash.
September ?12 Purchase office supplies on account for $3,400.
September ?15 Pay employee salaries of $4,100 for the current month.
September ?19 Purchase advertising to appear in the current month for $1,200 cash.
September 22 Pay office rent of $5,300 for the current month.
September ?26 Receive $14,500 from customers in (1) above. painted in the following month.
Required:
Record each transaction.
Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account balances: Cash, $45,600; Accounts Receivable, $1,650; Supplies, $490; Equipment, $7,300; Accounts Payable, $1,100; Common Stock, $24,500; Retained Earnings, $29,440. All other accounts had a beginning balance of zero.
Prepare a trial balance.
Complete this question by entering your answers in the tabs below.
Record each transaction. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet
1
2
3
4
5
6
7
8
Paint houses in the current month for $19,500 on account.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[September 03,,,],[,,,],[,,,],[,,,],[,,,]]
 Exercise 2-20(Algo) Record transactions, post to T-accounts, and prepare a trial

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!