Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For this assignment you need to prepare the journal entries for the transactions in the attached file. Remember that for each transaction you will complete
For this assignment you need to prepare the journal entries for the transactions in the attached file. Remember that for each transaction you will complete one journal entry in which you need to include the date, the debit(s) and credit(s) accounts and amounts, and an explanation statement. During the second month of operations, Bella Construction, Inc. completed the following transactions: January transactions: 2 Bella invested $75,000 cash as capital into the business. 3 Purchased supplies $3,200 and equipment of $22,700 on account. 4 Performed construction services for a client and received $2,300 cash. 5 Paid $1,950 cash for a 12 -month insurance policy that begins on February 1. 7 Paid $36,000 to acquire a business truck on account. 11 Paid $6,550 cash in employee salaries. 11 Performed construction services for a customer and billed the customer $3,600. 12 Issued a note receivable of $4,000 to a client for construction services provided. 17 Paid $240 cash for the telephone bill. 18 Received $3,600 payment from customer on account, for services provided on Jan 11 . 22 Paid $430 cash for the water and electricity bills. 23 Paid for the equipment purchased Jan 3. 25 Paid $6,550 cash in employee salaries. 29 Received $4,300 cash for construction services of repairing the pipes of a customer. 29 Paid $3,500 cash for rent due Feb 5
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started