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Exercise 4.1 (Static) Analyzing transactions. LO 4-1 Here are selected transactions of the Escobedo Shipping Service. Record a journal entry for each transaction. TRANSACTIONS 1.
Exercise 4.1 (Static) Analyzing transactions. LO 4-1 Here are selected transactions of the Escobedo Shipping Service. Record a journal entry for each transaction. TRANSACTIONS 1. Gave a cash refund of $875 to a customer because of a lost package. (The customer had previously paid in cash.) 2. Sent a check for $1,250 to the utility company to pay the monthly bill. 3. Provided services for $8,700 on credit. 4. Purchased new equipment for $6,400 and paid for it immediately by check. 5. Issued a check for $5,300 to pay a creditor on account. 6. Performed services for $16,775 in cash. 7. Collected $6,250 from credit customers. 8. The owner made an additional investment of $25,000 in cash. 9. Purchased supplies for $2,350 on credit. 10. Issued a check for $3,750 to pay the monthly rent. View transaction list Journal entry worksheet Gave a cash refund of $875 to a customer because of a lost package. (The customer had previously paid in cash.) Note: Enter debits before credits. General Journal Debit Credit Transactions 1 Record entry Clear entry View general journal
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