Record the following journal entries. Enter the Date listed for each transaction (you may use the
Question:
Record the following journal entries. Enter the Date listed for each transaction (you may use the “ + ” key to advance the date or use the calendar icon next to the field to select the date from a calendar). Enter “Memo” into the Source text box for each transaction or accept Peachtree’s additional number added to memo by pressing TAB:
2001 July i Purchased additional office supplies on account, $700.
2 Paid advertising bill for June, $ 1,200.
3 Sold a house and collected a commission, $6,600.
6 Paid for gas expense, $29.
8 Collected commission from sale of building lot on 6/17/01 (collected our accounts receivable).
12 Paid $300 to send employees to realtor’s workshop.
15 Paid the salary of the office secretary, $350.
17 Sold a house and earned a commission of $2,400. Expected receipt on 8/10/01.
18 Sold a building lot and collected a commission of $7,000.
22 Sent a check for $40 to help sponsor a local road race to aid the public (This is not to be considered an advertising expense, but it is a business expense.)
24 Paid for repairs to automobile, $590.
28 Juan Valdez withdrew $1,800 from the business to pay personal expenses. 30 Paid the salary of the office secretary, $350.
30 Paid the July telephone bill, $590.
30 Advertising bill for July, $ 1,400. The bill is to be paid on 8/2/01.
LO.1
Step by Step Answer:
College Accounting A Practical Approach Chapters 1-26
ISBN: 9780130911421
8th Edition
Authors: Jeffrey Slater