Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following is the chart of accounts of Sanchez Realty Company: Sanchez completed the following transactions during April (the first month of business): April 1 Sanchez

image text in transcribed
image text in transcribed
Following is the chart of accounts of Sanchez Realty Company: Sanchez completed the following transactions during April (the first month of business): April 1 Sanchez deposited $20,000 in a bank account in the name of the business. S Sold realty services on account to R. Muler, 57,500 , Inv. No, 100. 7 Paid a bill for advertising, $250, CK, No, 1001. 8 Bought supplies on account from Taylor Supply, \$420, Inv. No. 2340. Sanchez completed the following transactions during April (the first month of business): April 1 Sanchez deposited $20,000 in a bank account in the name of the business. 5 Sold realty services on account to R. Miller, $7,500, Inv. No, 100 . 7 Paid a bill for advertising, $250,CK. No. 1001. 8. Bought supplies on account from Taylor Supply, \$420, Inv. No. 2340. 9 Performed realty services for clients for cash, $2,530. 15. Recelved and paid the bill for utilities, $280,CK. No. 1002. 17 Bought a desk and chair from Lewis Furniture, $1,800, paying $300 in cash and placing the balance on account, CK, No. 1003 . 20 Bought liability insurance for one year, $1,800,CK. No. 1004. 21 Paid the rent for the current month, $1,000,CK. No, 1005. 25 Paid on account to Taylor Supply, \$420, for supplies purchased on April 8, CK. No, 1006. 27 Received $7,500 from R. Miller for services performed on April 5. 28 Received and paid the telephone bill for the month, $150,CK. No, 1007. 29 Paid the salary of the office assistant, $1,030,CK. No. 1008. 30 Sanchez withdrew cosh for his personal use, 53,000, Q. No. 1009. Required: 1. Journalize the transactions for April in the general journal. If no amount is required, leave the entry box blank. GENERAL JOURNAL

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Financial Accounting And Reporting Principles And Analysis

Authors: Peter Walton, Walter Aerts

4th Edition

1473729521, 9781473729520

More Books

Students also viewed these Accounting questions

Question

Balance a transportation problem 773

Answered: 1 week ago