Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have completed the journal entries for Friday. But I am stuck on Saturday and Sunday. The project requires you to carry over the information

image text in transcribedI have completed the journal entries for Friday. But I am stuck on Saturday and Sunday. The project requires you to carry over the information from the T-accounts (so the balances) to the next day. Could someone help with the journal entries for Saturday and Sunday? Using the information given? Thank you!image text in transcribed

Date Account Narne Ref Debit Credit Common Stoc 7000 To record initial cash investment. Accounts payable To record purchase of 130 boxes at $7 each 300 Prepaid booth rental Prepaid clean-up fee 40 To record payment to show management. To record payment of 20 boxes of chocolate at $12 each Sales Revenue 1260 To record sale of 105 boxes by walk-up customers Torecord cost of goods sold for 105 boxes 70 Salaries Expense Salaries Payable 70 To record salaries owed. Booth Expense 100 100 Prepaid Booth Rental To record booth expense. S 4,355.00 S 4.355.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing IT Infrastructures For Compliance

Authors: Robert Johnson, Marty Weiss, Michael G. Solomon

3rd Edition

1284236609, 9781284236606

More Books

Students also viewed these Accounting questions