Prepare general journal entries for the following transactions of Green Energy Company. Use the following (partial) chart
Question:
Prepare general journal entries for the following transactions of Green Energy Company. Use the following (partial) chart of accounts: Cash; Accounts Receivable; Supplies; Accounts Payable; Consulting Revenue; and Utilities Expense.
May 1 The company billed a customer $2,000 in consulting revenue for sustainable proposals.
3 The company purchased $300 of energy-efficient supplies on credit.
9 The company collected $500 cash as partial payment of the May 1 consulting revenue.
20 The company paid $300 cash toward the payable for energy-efficient supplies.
31 The company paid $100 cash for May’s renewable energy utilities.
Step by Step Answer:
May 1 Accounts Receivable 2000 ConsultingRevenue 20...View the full answer
Financial Accounting Information for Decisions
ISBN: 978-1259917042
9th edition
Authors: John J. Wild
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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