Question
aper 2 Assignment (Graded) 24. Journal Entries and Trial Balance On October 1, 20Y6, Jay Pryor established an interior decorating business, Pioneer Designs. During the
aper 2 Assignment (Graded) 24. Journal Entries and Trial Balance On October 1, 20Y6, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business: Oct. 1. Jay transferred cash from a personal bank account to an account to be used for the business, $34,000. 4. Paid rent for period of October 4 to end of month, $3,300. 10. Purchased a used truck for $28,000, paying $3,000 cash and giving a note payable for the remainder. 13. Purchased equipment on account, $13,260. 14. Purchased supplies for cash, $2,280. 15. Pald annual premiums on property and casualty insurance, $5,100. 15. Received cash for job completed, $14,280. Enter the following transactions on Page 2 of the two-column journal: 21. Pald creditor a portion of the amount owed for equipment purchased on October 13, $4,730. Recorded jobs completed on account and sent invoices to customers, $16,250. Received an invoice for truck expenses, to be paid in November, $1,500. Pald utilities expense, $1,700. Pald miscellaneous expenses, $610. Received cash from customers on account, $6,800. 26. 27. 27. 29. 30. 31. eBook Paid wages of employees, $4,520. Withdrew cash for personal use, $3,770. Required: Check My Work Show Me How ES Jun 8 8:42 Next
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started