journal Entries General Journal

This comprehensive problem is intended to serve to test your understanding of the entire accounting process.As such, students should plan on about three to six hours to complete this problem. Always list the Debit item first.

Date Accounts Debit Credit

The following transactions took place during April

April 1 Parrot invested cash in business, $100,000.

1 Paid insurance premium for seven-month camping season, $14,000.

2 Paid rent for lodge and campgrounds for the month of May, $25,000.

2 Deposited registration fees, $32,000.

2 Purchased 10 fishing boats on account for $45,000. The boats have estimated useful lives of five years, at which time they will be donated to a local day camp. Arrangements were made to pay for the boats in August.

3 Purchased food supplies from Wendy's Food Market on account, $5,000.

5 Purchased office supplies from Petersons Office Supplies on account, $1250.

7 Deposited registration fees, $48,300.

10 Purchased food supplies from Wendy's Market on account, $7,200.

10 Paid wages to fishing guides, $9,500.

14 Deposited registration fees, $34,500.

16 Purchased food supplies from Wendy's Super Market on account, $9,200.

17 Paid wages to fishing guides, $9,500.

18 Paid postage, $275.

21 Deposited registration fees, $35,600.

24 Purchased food supplies from Acme Super Market on account, $8,500.

24 Paid wages to fishing guides, $10,000.

28 Deposited registration fees, $41,000.

29 Paid wages to fishing guides, $9,500.

30 Purchased food supplies from Wendy's Super Market on account, $6,300.

30 Paid Wendys Super Market on account, $32,700.

30 Paid utilities bill, $2,750.