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More Info Jan 1 The business sold $85,000 of common stock to open the firm, Sutton & Associates, Inc. 3 Purchased supplies, $100, and furniture, $2,800, on account. 5 Performed accounting service for a client and received cash, $2,200. 8 Paid cash to acquire land for a future office site, $16,000. 11 Prepared tax returns for a client on account, $500. 14 Paid assistant's salary, $1,200. 16 Paid $1,190 on account. 19 Received $700 cash for accounting services performed 23 Billed a client for $1.500 of accounting services. 28 Received $300 from client on account. 31 Paid assistant's salary, $1,200 31 Paid rent expense. $1,400. 31 Paid $1,500 of dividends Print Done Tuck Sutton opened an accounting firm on January 1, 2018. During the month of January, the business completed the following transactions: Click the icon to view the transactions.) Read the requirements Requirement 1. Record transactions in the journal, Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Jan 1: The business sold $85,000 of common stock to open the firm, Sutton & Associates, Inc. Journal Entry Accounts Date Debit Credit Jan Jan 3: Purchased supplies, $100, and furniture, $2,800, on account. Make a compound entry. Journal Entry Date Accounts Debit Credit Jan Jan 5: Performed accounting service for a client and received cash, $2,200. Journal Entry Date Accounts Debit Credit Jan Jan 8: Paid cash to acquire land for a future office site, $16,000. Journal Entry Date Accounts Debit Credit Jan Jan 11: Prepared tax returns for a client on account, $500. Journal Entry Date Accounts Debit Credit Jan Jan 14: Paid assistant's salary, $1,200. Journal Entry Date Accounts Debit Credit Jan Read me requirements. Jan 16: Paid $1,190 on account. Journal Entry Date Accounts Debit Credit Jan Jan 19: Received $700 cash for accounting services performed. Journal Entry Accounts Date Debit Credit Jan Jan 23: Billed a client for $1,500 of accounting services. Journal Entry Date Accounts Debit Credit Jan Jan 28: Received $300 from client on account. Journal Entry Date Accounts Debit Credit Jan Jan 31: Paid assistant's salary, $1,200. Journal Entry Date Accounts Debit Credit Jan Jan 31: Paid rent expense, $1,400. Journal Entry Date Accounts Debit Credit Jan Jan 31: Paid $1,500 of dividends. Journal Entry Date Accounts Debit Credit Jan Requirements 2 and 3. Post the transactions to the T-accounts that have been set up for you, using reference and entering the amount on the appropriate side of each T-account (Post the transactions Requirements 2 and 3. Post the transactions to the accounts that have been set up for you, using transaction dates as posing references Calculate the balance in each account at January 31, 2018 by selecting a "Bar reference and entering the amount on the appropriate side of each T-account (Post the transactions on January 31 in the order they are presented in the transaction list) Cash Accounts receivable Supplies Jan Jan Jan Jan Jan Jan Land Furniture Accounts payable Land Furniture Accounts payable Jan Jan Jan Jan Jan Jan Common stock Dividends Service revenue Jan Jan Jan Jan Jan Jan Ling furm on January 1, 2018. During the month of January, the business complet Click the icon to view the transactions.) Read the requirements. Salaries expense Rent expense Jan Jan Jan Jan Requirement 4. Prepare a trial balance at January 31, 2018 Sutton and Associates, Inc. Trial Balance January 31, 2018 Account Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Tune here in manual DCUTL ETC ETC DECOUTEL Total Accounts payable Accounts receivable Cash Tu Common stock Dividends Re Equipment Fumiture Land Rent expense Salaries expense Service revenue Supplies Utilities expense mi
