Question
For the transactions below create journal entries (excel or word). Identify each transaction by number. Here is an example of transaction 1, other examples are
For the transactions below create journal entries (excel or word). Identify each transaction by number. Here is an example of transaction 1, other examples are noted in the textbook.
1. The owner invests $35,000 cash to start a real estate office operating as a sole
proprietorship.
Debit | Credit | |
Cash | 35,000 | |
Investment | 35,000 |
2. Purchased $400 of office supplies on credit.
3. Purchased office equipment for $6,000, paying $2,500 in cash and the rest to be paid later as a note payable.
4. Earned $4,000 in real estate commissions which was billed to clients.
5. Paid $700 in cash for the current month's rent.
6. Paid $200 cash for office supplies purchased in transaction 2.
7. Received a bill for $500 for advertising for the current month.
8. Paid $2,200 cash for current office salaries.
9. Owner withdrew $1,200 from the business for personal living expenses.
10. Received $3,000 from a client in payment related to transaction 4.
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