Hello,
Assistance in guiding and explaining how to go about the transactions for the journal entry would be appreciated.
I was unable to post my journal entries due to the length limits. Please also note the journal has more than 27 rows available.
Please note, the numerical number before each transaction represents the "Source Document Number" documented.
TRANSACTIONS: 1. Memo 1 - initial investment in business by Adrian Martinez 2. South Atlantic Computers invoice 1131 - for purchase of personal computer with editing software and hardware upgrade 3. Danny's News Stand - issue check 102 for purchase of all local papers 4. Coastal Copy Center invoice 602 - for copying of marketing flyers - check 103 5. Memo 2 - from Danielle Sloane - check 104 issued for one month's rent on the studio 6. Miami News Service statement - check 105 issued for advertising 7. Memo 3 - an additional investment in the business by Adrian Martinez 8. Surfside Post Office - postage costs for athletic department mailings - issued check 106 9. Invoice 101 to Nicolas DeCilla for DeCilla/Boles wedding. Receipt 1 from Nicolas DeCilla deposit for the DeCilla/Boles wedding (first of three payments) 10. Invoice 102 to Glastre Art Gallery for Opening Video Shoot. Receipt 2 from Glastre Art Gallery - deposit for opening video shoot (first of two payments) 11. Memo 4 - from Danielle Sloane - weekly cash check Week 1, Source Document 1 ACTION VIDEO PRODUCTIONS 2433 Atlantic Ave., Suite 311 Surfside, FL 33154 Memorandum No. 1 TO: Accounting Clerk FROM: Adrian Martinez DATE: June 2, 20 SUBJECT: Business Investment I have invested personal savings of $8,500 in the business by opening a checking account for Action Video Productions at Florida National Bank. Danielle Sloane has entered the $8,500 cash as the beginning balance in the checkbook. Please record the journal entry in the general journal. Week 1, Source Document 2 South Atlantic Computers Received computer package today. INVOICE Pay $2,100.00 today 6/2/20-, 323 Via Solana Boulevard Subsequent payments are as follows: North Miami Beach, FL 33162 $1,370 due June 28, $1,370 due July 28, balance due August 28. AM Date: June 2, 20 -- To Action Video Productions Invoice No.: 1131 2433 Atlantic Ave., Suite 311 Terms: 90 days Surfside, FL 33154 Shipped By: Pick-Up Quantity Unit Price $ 2,100.00 Total $ 2,100.00 1 2 (included) 2,000.00 1 2,000.00 1 1 Item Personal computer package (1.0 GHz Processor, keyboard, monitor, mouse, printer and cables) Hard Disk 40GB Drives Matrix capture card for MPEG 2 compression with editing software package Additional color monitor Pair computer speakers AC stabilizer Work table SUBTOTAL Issued check #101 for $2,100. - DS 6% Sales Tax TOTAL 300.00 60.00 150.00 175.00 1 1 300.00 60.00 150.00 175.00 $ 4,785.00 287.10 $ 5,072.10 Week 1, Source Document 3 Danny's News Stand 4338 Collins Avenue Surfside, FL 33154 Date: Invoice No.: INVOICE June 2, 20 -- 1250 BILL TO: Action Video Productions 2433 Atlantic Ave., Suite 311 Surfside, FL 33154 Write a check today, 6/2/20 -- and charge to Miscellaneous Expense. AM CHARGES DATE 6/2/20 -- DESCRIPTION For purchase of 20 different weekly community newspapers 20 newspapers, per agreement 6% sales tax TOTAL DUE: $ 20.00 1.20 $ 21.20 Issued check #102 for $21.20. - DS Week 1, Source Document 4 Coastal Copy Center 8175 Harding Ave Surfside, FL 33154 Date: Invoice No.: INVOICE June 3, 20 -- 602 BILL TO: Action Video Productions 2433 Atlantic Ave., Suite 311 Surfside, FL 33154 Write a check today, 6/3/20--, -AM CHARGES DATE 6/3/20 -- DESCRIPTION For copying of marketing flyers. 100 8x10 color @ 1.35 per copy 500 8x10 b&w @.07 per copy 6% sales tax TOTAL AMOUNT DUE: $ 135.00 35.00 10.20 $ 180.20 Issued check #103. -DS Week 1, Source Document 5 ACTION VIDEO PRODUCTIONS 2433 Atlantic Ave., Suite 311 Surfside, FL 33154 Memorandum No. 2 TO: Accounting Clerk FROM: Danielle Sloane DATE: June 4, 20- SUBJECT: Rent I issued check #104 payable to Highland Realtors for $975.00. This covers the rent on the studio for the month of June. Please make the necessary journal entry. Week 1, Source Document 6 STATEMENT MIAMI NEWS SERVICE 2232 Drexel Drive Miami Beach, FL 33139 BILL TO: Action Video Productions 2433 Atlantic Ave., Suite 311 Surfside, FL 33154 Write a check today, 6/4/20--, -AM CHARGES DATE 6/3/20 -- DESCRIPTION For placement of 1-inch ads in monthly marriage announcement sections of 10 weekly community newspapers (June issues). TOTAL AMOUNT DUE: $ 450.00 Issued check #105 for $450.00. - DS Week 1, Source Document 7 ACTION VIDEO PRODUCTIONS 2433 Atlantic Ave., Suite 311 Surfside, FL 33154 Memorandum No. 3 TO: Accounting Clerk FROM: Adrian Martinez DATE: June 5, 20- SUBJECT: Additional Investment I have decided to invest my sports utility vehicle in the business. The current market value is $23,540.00. Please record this transaction in the general journal. Week 1, Source Document 8 RECEIPT Surfside Post Office 3341 Coolidge Avenue Surfside, FL 33154 DATE: June 5, 20 - AMOUNT: $28.00 I paid cash for athletic department mailings. Please reimburse me and enter in the general journal. - AM Issued check #106 for $28.00. - DS THANK YOU Week 1, Source Document 10 ACTION VIDEO PRODUCTIONS 2433 Atlantic Ave., Suite 311 Surfside, FL 33154 INVOICE Date: June 5, 20 -- Invoice No.: S102 SOLD TO: Glastre Art Gallery 3666 Blanchard Boulevard Coral Gables, FL 33134 CHARGES DATE DESCRIPTION 6/5/20 -- Videography of Glastre Art Gallery grand opening and delivery of unedited digital master DVDs $ 600.00 Payable in two equal installments ACTION VIDEO PRODUCTIONS RECEIPT No. 2 Date: June 5, 20 - Received from: Glastre Art Gallery Three hundred and no/100-- $300.00 Dollars For: Deposit for videography of grand opening of gallery Received by: Adrian Martinez Week 1, Source Document 11 ACTION VIDEO PRODUCTIONS 2433 Atlantic Ave., Suite 311 Surfside, FL 33154 Memorandum No. 4 TO: Accounting Clerk FROM: Danielle Sloane DATE: June 7, 20- SUBJECT: Cash Balance The checkbook balance is $5,695.60. Please verify this balance with the balance in the Cash general ledger account as of 6/7/20--. DATE DESCRIPTION DEBIT CREDIT POST. REF. 110 1 8 5 0 0 00 1 2017 2 Cash June Martinez, Capital 2 310 8 2 5 0 0 0 0 3 Memo 1 Beginning Investment 3 4 4 5 5 6 6 7 7 8 8 9 9 IT 10 10 11 11 12 12 13 13 14 14 15 16 15 16 oleh 17 17 18 18 19 19 20 20 21 22 21 22 23 23 24 24 25 25 26 26 27 27
