Question: Need help with these journal entries Exercise 2-15 (Algo) Analyzing and journalizing transactions involving cash payments LO A1 Following are the transactions for Valdez Services.
Need help with these journal entries


Exercise 2-15 (Algo) Analyzing and journalizing transactions involving cash payments LO A1 Following are the transactions for Valdez Services. a. The company paid $4,500 cash for payment on a 1-month-old account payable for office supplies. b. The company paid $1,500 cash for the just completed two-week salary of the receptionist. c. The company paid $50,000 cash for equipment purchased. d. The company paid $200 cash for this month's utilities. e. The company paid a $2,000 cash dividend to the owner (sole shareholder). 1. Prepare general journal entries for the above transactions of Valdez Services. 2. Listed below are three reasons why a transaction would not result in an expense. Match each of the reasons to the transaction it properly describes. Journal entry worksheet The company paid $4,500 cash for payment on a 1-month-old account payable for office supplies. Note: Enter debits before credits
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