Question: Topic 6 - Journalizing and Posting Transaction Journalizing Transactions You have the following transactions the last few days of April. Account Numbering System Apr. 25

Topic 6 - Journalizing and Posting Transaction

Journalizing Transactions

You have the following transactions the last few days of April.

Account Numbering System

Apr. 25

You stop by your uncles gas station to refill both gas cans for your company, Watsons Landscaping. Your uncle adds the total of $28 to your account.

Apr. 26

You record another weeks revenue for the lawns mowed over the past week. You earned $1,200. You received cash equal to 75% of your revenue.

Apr. 27

You pay your local newspaper $35 to run an advertisement in this weeks paper.

Apr. 29

You make a $25 payment on account.

Table3.3

Prepare the necessary journal entries for these four transactions.

Explain why you debited and credited the accounts you did.

What will be the new balance in each account used in these entries?

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