Question: Problem 2-2A Emily Valley is a licensed dentist . During the first month of the operation of her business , the following events and transactions

Problem 2-2A Emily Valley is a licensed dentist .
Problem 2-2A Emily Valley is a licensed dentist . During the first month of the operation of her business , the following events and transactions occurred April 1 Invested $20,000 cash in her business 1 Hired a secretary-receptionist at a salary of $700 per week payable monthly. 2 Paid office rent for the month $ 1,100 3 Purchased dental supplies on account from Dazzle Company $4,000 10 Performed dental services and billed insurance companies $5,100 1 Received $1,000 cash advance from Lesh Mataruka for an implant 20 Received $2,100 cash for services performed from Michael Santas 30 Paid secretary - receptionist for the month $2,800 0 Paid $2,400 to Dazzle for accounts payable due. Your answer is correct. Journalize the transactions . ( Credit account titles are automatically indented when amount is entered Do not indent manually . Record journal entries in the order presented in the problem . If no entry is required , select "No Entry " for the account titles and enter 0 for the amounts .) Date Account Titles and Explanation Debit Credit Apr. 1 Cash 20000 Owner's Capital 20000 (Owner's investment of cash in business ) Apr. 1 No Entry No Entry (Hired a secretary -receptionist ) Apr. 2 Rent Expense 1100 Cash 1100 (Paid monthly office rent ) Apr. 3 Supplies 4000 Accounts Payable 4000 (Purchased supplies on account from Dazzle Company ) Apr. 10 Accounts Receivable 5100

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!