December business transactions Dec. $1$st $$ Collected $$500$ from Franklin from a previous engagement in Oct. Dec. $2$nd $$ Paid $$1,500$ on Gusto$$s Inc. invoice from a previously recorded transaction with check #$1301.$ Dec $3$rd $$ Paid December rent of $$2,500$ with check #$1302.$ Dec $4$th $$ Completed additional work for Washington, sent invoice #Y$77$P for $$1,600$ due in $1$ month. Dec. $5$th $$ Paid employee from work previously expensed in Nov. with payment due Dec. $5$th using check #$1303.$ Dec. $8$th $-$ Purchased land on a note for $$30,000$ to be used for future construction of a new office building. Land and Notes payable will have account numbers of $150$ and $240,$ respectively. Dec. $9$th $-$ Paid $$1,400$ to cover all utilities for the month of Dec using check #$1304.$ Dec. $10$th $-$ Completed $$500$ worth of work for a repeat customer who pays cash immediately upon completion. Dec. $11$th $-$ Collected $$800$ from Washington from a previous engagement in Nov. Dec. $12$th $-$ Our employee earned two weeks of pay amounting to $$1,500,$ to be paid Dec. $23$rd$.*$employee took vacation from Dec. $15$th$-$Dec. $31$st$.$ No pay will accrue$*$ Dec. $15$th $-$ Leah Tyler, the owner, withdrew $$3,500$ for personal use using check #$1305.$ Dec. $16$th $$ Completed a large job for Franklin for $$12,000.$ Sent invoice #Y$78$P due Jan. $31$st$.$ Dec. $22$nd $$ Franklin paid $$2,500$ to pay off some of his balance due. Dec. $23$rd $$ Paid our employee for the work expensed Dec. $12$th$.$ Dec $24$th$-$Dec. $31$st $$ Owner took off the rest of the year. Cash $36,100$ Accounts Receivable$-$Franklin $1,900$ Accounts Receivable$-$Washington $1,400$ Supplies $900*$Prepaid Insurance $2,400*$Equipment $5,000$ Accumulated Depreciation $-$ Equipment $2,000$ Accounts Payable$-$Gusto Inc. $3,200$ Wages Payable $1,600*$Unearned Revenue $3,000$ Leah Tyler, Capital $34,200$ Leah Tyler, Drawing $40,100$ Retained Earnings $9,600$ Revenue earned $104,000$ Wages Expense $35,200$ Utilities Expense $8,800$ Supplies Expense $1,600$ Rent Expense $24,200$ Depreciation Expense Insurance Expense $157,600157,600.$ Adjusted trial balance

Income statement

Statement of owner$$s equity

Balance sheet General journal $($for journalizing closing entries$)$

Post$-$closing trial balance $1-$Dec Collected $500$ from Franklin

cash $500$

accounts receivable $500$

$2-$Dec paid $18$ on gustol check # $1301$

accounts payable $1,600$

cash $1,600$

$3-$Dec paid december rent $2300$ check #$1302$

rent exspense $2,500$

cash $2,500$

$4-$Dec invoice #y$77$p

accounts receivable $1,600$

revenue earned $1,600$

$5-$Dec paid employess for nov

wages exspense $1,500$

cash $1,500$

$8-$Dec purchased land

land $30,000$

notes payable $30,000$

$9-$Dec utlities for december check #$1304$

utlities exspense $1,400$

cash $1,400$

$10-$Dec complete work for cash

cash $500$

revenue earned $500$

$11-$Dec Collected $800$ from washington for nov

cash $800$

accounts receivable $800$

$12-$Dec emplyess earned $2$ weeks be paid on dec$23$

wages exspense $1,500$

wages payable $1,500$

$15-$Dec leah tyler w$/$d $3500$ personal use chek #$1305$

leah tyler w$/$d account $3,500$

cash $3,500$

$16-$Dec large job for franklin invoice #y$78$p

accounts receivable $12,000$

revenue earned $12,000$

$22-$Dec franklin paid balance due

cash $2,500$

accounts receivable $2,500$

$23-$Dec paid employess for dec $12$th

wages payable $1500$

cash $1500$

$24-$Dec owner took off

no journal entry is required

ADJ

Depreciation Expense $1000$

Accumulated Depreciation $-$ Equipment $1,000$

ADJ

insurance exsepens $1200$

prepaid insurance $1200$

ADJ

unearned revenue $1500$

revenue earned $1500$

ADJ

Supply Expense $400$

Supplies