Kauai Adventures rents surfboards and snorkeling and scuba equipment. During March 2009, Kauai engaged in the following
Question:
March 2 Received $34,200 cash from customers for rental
3 Purchased on credit five new surfboards for $110 each
6 Paid wages to employees in the amount of $11,500
9 Paid office rent for the month in the amount of $3,300
12 Purchased a new Ford truck for $17,800; paid $1,000 down in cash and secured a loan from Princeville Bank for the $16,800 balance
13 Collected a $650 account receivable
16 Paid an account payable in the amount of $790
23 Borrowed $10,000 on a six-month, 12 percent note payable
27 Paid the monthly telephone bill of $345
30 Paid a monthly advertising bill of $1,960
Required:
Prepare a journal entry for each of these transactions.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
Question Posted: