Question: Using the information below can you use the transactions below and record them in the yellow sections of the General Journal? Byte of Accounting The

 Using the information below can you use the transactions below andrecord them in the yellow sections of the General Journal? Byte ofAccounting The Byte of Accounting Corporation (Byte) is a computer advisory consultingbussiess that works with small and midsize businesses. Business Operations: After aninitial review of a new client's operations a proposal is developed by

Using the information below can you use the transactions below and record them in the yellow sections of the General Journal?

a team to improve the client's operations by the purchase of offthe shelf software or more often the modification of off the shelfsoftware. Significant Accounting Policies: The business has adopted the following accounting policies:- Fixed assets that cost less than $500.00 are expensed. - Theallowance method is used to account for bad debts. When calculating depreciation,

Byte of Accounting The Byte of Accounting Corporation (Byte) is a computer advisory consulting bussiess that works with small and midsize businesses. Business Operations: After an initial review of a new client's operations a proposal is developed by a team to improve the client's operations by the purchase of off the shelf software or more often the modification of off the shelf software. Significant Accounting Policies: The business has adopted the following accounting policies: - Fixed assets that cost less than $500.00 are expensed. - The allowance method is used to account for bad debts. When calculating depreciation, assets purchased during a month are treated as if purchased on the first day of the month. \begin{tabular}{|l|l|l|l|l|l|l|} \hline 07 & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular} \begin{tabular}{l|l|l|l|l|l|l|} \hline 08 & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|l|} \hline 09 & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular} 13. June 21: Byte received invoice number 26354 in the amount of $325.00 from Fida Marketing Agency for advertising. 14. June 21: Check # 6006 for $4,600.00 was paid for rent for June and July. Put the total amount into the Prepaid Rent account. 15. June 21: Billed various miscellaneous local customers $4,700 for consulting services performed. Byte of Accounting The Byte of Accounting Corporation (Byte) is a computer advisory consulting bussiess that works with small and midsize businesses. Business Operations: After an initial review of a new client's operations a proposal is developed by a team to improve the client's operations by the purchase of off the shelf software or more often the modification of off the shelf software. Significant Accounting Policies: The business has adopted the following accounting policies: - Fixed assets that cost less than $500.00 are expensed. - The allowance method is used to account for bad debts. When calculating depreciation, assets purchased during a month are treated as if purchased on the first day of the month. \begin{tabular}{|l|l|l|l|l|l|l|} \hline 07 & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular} \begin{tabular}{l|l|l|l|l|l|l|} \hline 08 & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|l|} \hline 09 & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular} 13. June 21: Byte received invoice number 26354 in the amount of $325.00 from Fida Marketing Agency for advertising. 14. June 21: Check # 6006 for $4,600.00 was paid for rent for June and July. Put the total amount into the Prepaid Rent account. 15. June 21: Billed various miscellaneous local customers $4,700 for consulting services performed

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!