Part 1: Journal Entries

Smart Touch Learning began operations on Dec. 1. Record the business' transactions for the month of December.

Edge ity/0/1/1 Completed a large job, billed the customer, $4, 100, December 15. Date Accounts Debit Credit Paid employee salary, $2,400, December 18. Date Accounts Debit Credit Received $12,700 cash for performing services, December 20. Date Accounts Debit Credit Collected $5,400 in advance for a service to be performed later, December 22. Date Accounts Debit Credit Collected $4,100 cash from customer on account, December 23. Date Accounts Debit Credit Received a $270 utility bill to be paid at a later time, December 27. Date Accounts Debit Credit Performed services on account, $600, December 28. Date Accounts Debit Credit Paid December's rent, $2,700, on December 29. Date Accounts Debit Credit Paid $270 on account, December 30. Date Accounts Debit Credit Cash dividends of $2,100 were paid to stockholders, December 31. Date Accounts Debit Credit