General Journal entrys

08 June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $4.968 in cash. The effective date of the policy was June 16. 09. June 16: A check in the amount of $6,000 was received for consulting revenue. 10. June 16: Byte purchased a building and the land it is on for $95,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $15,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment of $9,500 and executed a mortgage for the balance. The mortgage is payable in eight equal anmal installments beginning July 1. 11. June 17: Cash of $6,600 was paid for rent for June, July and August. Put the total amount into the Prepaid Rent account 12 June 17 Received a bill of $425 from the local newspaper for advertising 13. June 21: Accounts payable in the amount of $400 were paid 14. June 21: A fax machine for the office was purchased for $700 cash. 15. June 21. Billed various miscellaneous local customers $4,000 for consulting services performed. 16. June 22: Paid salaries of $835 to equipment operators for the week ending June 18. 5 5