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Exercise 2-8A Record transactions (LO Terrapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $22,800. 2.
Exercise 2-8A Record transactions (LO Terrapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $22,800. 2. Provide services to customers and receive cash of $4,700. 3. Pay the current month's rent of $1,100. 4. Purchase office supplies on account for $2,000. 5. Pay employee salaries of $1,400 for the current month. Required: Record the transactions. Terrapin uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Provide services to customers and receive cash of $4,700. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal Journal entry worksheet Purchase office supplies on account for $2,000. Note: Enter debits before credits. General Journal Debit Credit Transaction 4 Record entry Clear entry View general journal Journal entry worksheet > Pay employee salaries of $1,400 for the current month. Note: Enter debits before credits. General Journal Debit Credit Transaction 5 6 Record entry Clear entry View general journal
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