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Griffin Air Transport Service, Incorporated, providing air delivery service for businesses, has been in operation for three years. The following transactions occurred in February: February
Griffin Air Transport Service, Incorporated, providing air delivery service for businesses, has been in operation for three years. The following transactions occurred in February:
February Paid $ for rent of hangar space in February.
February Purchased fuel costing $ on account for the next flight to Dallas.
February Received customer.payment of $ to ship several items to Philadelphia next month.
February Flew cargo from Denver to Dallas; the customer paid $ for the air transport.
February Paid $ for an advertisement in the local paper to run on February
February Paid pilot $ in wages for flying in January recorded as expense in January
February Flew cargo for two customers from Dallas to Albuquerque for $; one customer paid $ cash and the other asked to be billed.
February Purchased on account $ for a supply of spare parts for the planes.
February Declared a $ cash dividend to be paid in March.
Required:
Prepare journal entries for each transaction.
Note: If ho entry is required for a transactionevent select No journal entry required" in the first account field.
Journal entry worksheet
Paid $ for rent of hangar space in February.
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