Louis Donnelly operates a chimney repair business. During the month of March, the first month of...
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Louis Donnelly operates a chimney repair business. During the month of March, the first month of operations, the firm had the following transactions. March 4 Paid $900 for newspaper advertisement. 5 Performed $1,950 of services, received immediate payment of $1,200 and customer agreed to pay the balance in 30 days. 7 Purchased Supplies for $130 on account. 8 Paid $130 on account for supplies purchased the previous day. 9 Paid $3,000 for the next 6 months of insurance. Prepare journal entries to record the above transactions. View transaction list Journal entry worksheet > 1 2 3 4 5 Paid $900 for newspaper advertisement. Note: Enter debits before credits. Date March 04 General Journal Debit Credit Record entry Clear entry View general journal 2 5 Purchased Supplies for $130 on account. Note: Enter debits before credits. Date March 07 General Journal Debit Credit Record entry Clear entry View general journal 2 3 Performed $1,950 of services, received immediate payment of $1,200 and customer agreed to pay the balance in 30 days. Note: Enter debits before credits. Date March 05 General Journal Debit Credit View general journal Record entry Clear entry 1 2 3 4 5 Paid $130 on account for supplies purchased the previous day. Note: Enter debits before credits. Date March 08 General Journal Debit Credit Record entry Clear entry View general journal 1 2 Paid $3,000 for the next 6 months of insurance. Note: Enter debits before credits. Date March 09 General Journal Debit Credit Record entry Clear entry View general journal > Louis Donnelly operates a chimney repair business. During the month of March, the first month of operations, the firm had the following transactions. March 4 Paid $900 for newspaper advertisement. 5 Performed $1,950 of services, received immediate payment of $1,200 and customer agreed to pay the balance in 30 days. 7 Purchased Supplies for $130 on account. 8 Paid $130 on account for supplies purchased the previous day. 9 Paid $3,000 for the next 6 months of insurance. Prepare journal entries to record the above transactions. View transaction list Journal entry worksheet > 1 2 3 4 5 Paid $900 for newspaper advertisement. Note: Enter debits before credits. Date March 04 General Journal Debit Credit Record entry Clear entry View general journal 2 5 Purchased Supplies for $130 on account. Note: Enter debits before credits. Date March 07 General Journal Debit Credit Record entry Clear entry View general journal 2 3 Performed $1,950 of services, received immediate payment of $1,200 and customer agreed to pay the balance in 30 days. Note: Enter debits before credits. Date March 05 General Journal Debit Credit View general journal Record entry Clear entry 1 2 3 4 5 Paid $130 on account for supplies purchased the previous day. Note: Enter debits before credits. Date March 08 General Journal Debit Credit Record entry Clear entry View general journal 1 2 Paid $3,000 for the next 6 months of insurance. Note: Enter debits before credits. Date March 09 General Journal Debit Credit Record entry Clear entry View general journal >
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Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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