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Accounts Payable Sleek Ride, a company providing limo services, has a December 3 1 year - end date. For Sleek Ride, the following transactions occurred
Accounts Payable
Sleek Ride, a company providing limo services, has a December yearend date. For Sleek Ride, the following transactions occurred during the first days of June:
Purchased, on credit, space for classified advertisements in the New York Times for $ The advertising was run the day the space was purchased.
Purchased office supplies from Office Max on credit in the amount of $
One of Sleek Rides sales staff signed a $ contract to provide exclusive limo services for a large company for the remainder of the month. The salespersons commission is of service revenue. The commission will be paid July Note: Concern yourself only with the commission.
Received electric bill for May. The bill is $ and is due on June
Received a bill for $ from Harrys Auto. Harrys repaired limos for Sleek Ride in late May. Payment is due on June
Required:
Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank.
aRecord purchase of advertising
bRecord purchase of supplies
cRecord sales commission
dRecord utilities expense
eRecord vehicle repair
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