Question
Bluestreak Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $15,000 on account. 2. September
Bluestreak Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $15,000 on account. 2. September 8 Purchase painting equipment for $16,000 cash. 3. September 12 Purchase office supplies on account for $2,500. 4. September 15 Pay employee salaries of $3,200 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,200 cash. 6. September 22 Pay office rent of $4,400 for the current month. 7. September 26 Receive $10,000 from customers in (1) above. 8. September 30 Receive cash of $5,000 in advance from a customer who plans to have his house painted in the following month. Required: 1. Record each transaction. 2. Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account balances: Cash, $41,100; Accounts Receivable, $1,200; Supplies, $400; Equipment, $6,400; Accounts Payable, $1,100; Common Stock, $20,000; Retained Earnings, $28,000. All other accounts had a beginning balance of zero. 3. Prepare a trial balance. Complete this question by entering your answers in the tabs below. General Journal T Accounts Trial Balance Record each transaction. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list
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