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General journal and the description for each column July Transactions 7/1 The company paid the monthly rent 7/1 Paid on account for an ad in
General journal and the description for each column
July Transactions 7/1 The company paid the monthly rent 7/1 Paid on account for an ad in the local radio station for $700 7/2 Paid the first installment due for the purchase of the Ice Cream Equipment (total \$4200) 7/5 Purchasad the followina inventorv items: 7/5 Incurred $50 of freight cost, which they paid in cash All the inventory left over from June and purchased July was fully utilized in making the ice cream in July 7/15 Paid in full the Furniture purchased on account in June. 7/15 Paid in full the cost of the laptop 7/15 Paid in full the cost of the QuickBooks software 7/30 Paid the salaries of the two employees for July 7/30 Collected $7,000 in cash sales Step by Step Solution
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