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eBook StrategY Journal Entries and Trial Balance On January 1, 2014, Faith Schultz established Heavenly Realty, which completed the following transactions during the month a.
eBook StrategY Journal Entries and Trial Balance On January 1, 2014, Faith Schultz established Heavenly Realty, which completed the following transactions during the month a. Faith Schultz transferred cash from a personal bank account to an account to be used for the business, $22,000 b. Paid rent on office and equipment for the month, $4,020 C.Purchased supplies on account, $1,190 d. Paid creditor on account, $440. e. Earned sales commissions, receiving cash, $18,260 f. Paid automobile expenses (inclding ental charge) for month, $1,110, and miscellaneous expenses, s750 g. Paid office salaries, $2,340 h. Determined that the cost of supplies used was $660. i. Withdrew cash for personal use, $1,080 Required Hide 1.Journalize entries for transactions (a) through (i) (in chronological order), using the following account titles: Cash; Supplies; Accounts Payable; Faith Schultz, Capital; Faith Schultz, Drawing: Sales Commissions; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous Expense. For a compound transaction, if an amount box does not require an entry, leave it blank. b. d
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