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British Columbia Institute of Technology FMGT 1100 - Accounting 1 B. BASIC JOURNAL ENTRIES (12 Marks) After a successful first month of operations, Jack Saunders

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British Columbia Institute of Technology FMGT 1100 - Accounting 1 B. BASIC JOURNAL ENTRIES (12 Marks) After a successful first month of operations, Jack Saunders incurred the following transactions in the months of November and December 2019 for Saunders Trucking. On the next page, record each transaction in the general journal using journal entries. Descriptions are not required. Nov 1 15 18 23 Entered into a contract with a client for three months of delivery services beginning November 1. The client paid $6,000 for all three months today. Received $300 from a client for services billed last month. Performed delivery services and billed a client $5,000. Paid the monthly telephone bill, $650. Paid the monthly utility bill, $260. Paid for the packing supplies purchased last month, $1,600. Paid the assistant's salary, $ 1900. Received $1500 from a client on account. Purchased packing supplies on account, $3,200. Received $2,600 cash from a client for delivery services. Paid for the monthly telephone and utility bill, $200 and $340 respectively. 6000 30 Dec 4 15 22 31

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