E3-9 Recording Journal Entries LO3-4

Blaine Air Transport Service, Inc., has been in operation for three years. The following transactions occurred in February:

February 1 Paid $265 for rent of hangar space in February.

February 2 Purchased fuel costing $390 on account for the next flight to Dallas.

February 4 Received customer payment of $880 to ship several items to Philadelphia next month.

February 7 Flew cargo from Denver to Dallas; the customer paid $990 for the air transport.

February 10 Paid $125 for an advertisement in the local paper to run on February 19.

February 14 Paid pilot $3,000 in wages for flying in January (recorded as expense in January).

February 18 Flew cargo for two customers from Dallas to Albuquerque for $4,800; one customer paid $1,100 cash and the other asked to be billed.

February 25 Purchased on account $2,570 in spare parts for the planes.

February 27 Declared a $200 cash dividend to be paid in March.

Required: Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

View transaction list Journal entry worksheet Record $265 payment for rent of hangar space in February. Note: Enter debits before credits. Date General Journal Debit Credit February 01 Record entry Clear entry View general journal View transaction list X > 1 Record $265 payment for rent of hangar space in February 2 Record purchase of fuel on account for $390. 3 Record $880 customer payment to ship items next month. 4 Credit Record $990 customer payment for cargo flown from Denver to Dallas. 5 Record payment of $125 for advertisement in local newspaper. 6 Record payment of wages for January of $3,000. Note : = journal entry has been entered Record entry Clear entry View general journal View transaction list X .. Denver to Dallas. > 5 Record payment of $125 for advertisement in local newspaper. 6 Record payment of wages for January of $3,000. 7 Record flying of cargo for $4,800 for 2 customers and the receipt of $1,100 from one customer. The other customer asked to be billed. Credit 8 Record purchase of spare parts on account for $2,570. 9 Record the declaration of $200 cash dividend to be paid in March. Note : journal entry has been entered Record entry Clear entry View general journal