Question
Complete August Journal Entries: August 5: Paid employee for period ending 7/31. August 8: Receive payments from customers towards accounts receivable in amount of $3,800.
Complete August Journal Entries:
August 5: Paid employee for period ending 7/31.
August 8: Receive payments from customers towards accounts receivable in amount of $3,800. August 10: Paid July telephone bill.
August 15: Purchase additional baking supplies in amount of $5,000 from vendor, on account. August 15: Accrue wages earned for employee from period of 1st through 15th of August (Wage calculations table provided below). August 15: Pay rent on bakery space. August 18: Receive payments from customers towards accounts receivable in amount of $3,000. August 20: Paid $8,500 toward baking supplies vendor payable. August 20: Pay employee for period ending 8/15. August 22: $300 in office supplies purchased. August 31: Received telephone bill for August in amount of $75. Payment is due on September 10. August 31: Accrue wages earned for employee for period of August 16th through August 31st (Wage calculations table provided below). August 31: August bakery sales total $20,000. $7,500 of this total is on accounts receivable.
Wage calculation data: 31 Jul. Hours:10 Rate:12 Pay:120
15 Aug. Hours:40 Rate:12 Pay:480
31 Aug. Hours:35 Rate:12 Pay:420
15 Sep. Hours:38 Rate:12 Pay:456
30 Sep. Hours:40 Rate:12 Pay:480
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