Question
DATE BUSINESS TRANSACTIONS January 2 Purchased supplies for $3,000 cash; issued Check No. 1015. 2 Purchased & paid for a one-year insurance policy for $4,800;
DATE | BUSINESS TRANSACTIONS | ||
|
|
| |
| January 2 | Purchased supplies for $3,000 cash; issued Check No. 1015. | |
| 2 | Purchased & paid for a one-year insurance policy for $4,800; issued Check No. 1016. | |
| 7 | Sold & provided services during the first week of January. $15,000 in cash sales and | |
|
| $1,800 in credit sales. | |
| 12 | Collected a total of $1,500 in cash from credit customers during the first week | |
|
| of January. | |
| 12 | Issued Check No. 1017 for $2,150 to pay for special promotional advertising to | |
|
| new businesses on the local radio station during the month. | |
| 13 | Collected a total of $2,250 in cash from credit customers during the second week | |
|
| of January. | |
| 14 | Returned supplies that were damaged for a cash refund of $275. | |
| 15 | Sold & provided services during the second week of January. $18,250 in cash sales and | |
|
| $2,375 in credit sales. | |
| 20 | Purchased supplies for $1,800 from White's, Inc.; received Invoice No. 2384 payable | |
|
| in 30 days. | |
| 20 | Sold & provided services during the third week of January. $9,050 in cash sales and | |
|
| $5,850 in credit sales. | |
| 20 | Collected a total of $1,750 in cash from credit customers during the third week | |
|
| of January. | |
| 21 | Issued Check No. 1018 for $4,250 to pay for maintenance work on the office | |
|
| equipment. | |
| 22 | Issued Check No. 1019 for $2,750 to pay for special promotional advertising to | |
|
| new businesses on the local newspaper. | |
| 23 | Received the monthly telephone bill for $410 and paid it with Check No. 1020. | |
| 26 | Collected a total of $4,570 in cash from credit customers during the fourth week | |
|
| of January. | |
| 27 | Issued Check No. 1021 for $2,000 to a vendor, as payment on account for Invoice | |
|
| No. 2223. | |
| 28 | Sent Check No. 1022 for $1,050 in payment of the monthly bill for utilities. | |
| 29 | Sold & provided services during the fourth week of January. $14,050 in cash sales and | |
|
| $2,250 in credit sales. | |
| 31 | Issued Check No.'s 1023 - 1027 for $15,500 to pay the monthly salaries of the | |
|
| regular employees and three part-time workers. | |
| 31 | Issued Check No. 1028 for $6,000 for personal use. | |
| 31 | Issued Check No. 1029 for $1,050 to pay for maintenance services for the month. | |
| 31 | Purchased new equipment for $10,500 from Contemporary Equipment Company; | |
|
| issued Check No. 1030 for $5,500 and put the rest on account/credit. The equipment | |
|
| has a 5 year useful life & no salvage value but depreciation wont begin until February. | |
| 31 | Sold & provided services on January 31st. $2,850 in cash sales and $1,450 in credit sales. | |
|
|
|
1. Journalize these transactions and post in general ledger
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