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i would like this journal solved and i want everything to be explained with the formula also. because m working on excel worksheet, and below
i would like this journal solved and i want everything to be explained with the formula also. because m working on excel worksheet, and below every entery i would like it explained just like this image (the blue pic is just an example has nothing to do with the question)
5 6 6 7 8 Techno Logic Company provides computer repairs and services plus other technology services. Mr. No started the business July 1, 2019 and has monthly financial statements prepared. Record the following transactions in the General Journal provided in General Journal Sheet. 2-Jul Mr. No deposited $15,000 of his personal money into the business bank account to help start the business 9 10 11 12 5-Jul Business purchased a vehicle to make service calls with, paid cash $5,000 and signed a loan note with the car dealership for the balance of $45,000. 1 13 14 7-Jul Mr. No made a service call to repair computers at a school and was paid cash of $955 when he left. 8-Jul Mr. No was in discussion with a business beside his company to provide support for their computers. 15 16 17 18 19 20 21 22 9-Jul A service tech for the business installed a computer system for a client, job was worth $5,000 and the client was given terms to pay in 30 days. 13-Jul Abusiness insurance policy was purchased to insure the business for 3 years effective July 1st. This policy cost $12,000. 23 24 25 13-Jul Purchased repair supplies for the business costing $800, on credit terms on 2/10 net 45. 26 27 NS 16-Jul Purchased office supplies to be used immediately for cash in the amount of $300. 25-Jul Hydro bill for the month of July was received and processed for payment in August, $250 total. Month End Adjustments Noticed by Mr. No that needed to be made were: (you make the adjustments) Depreciation on the vehicle, straight line 3 years usefull life with $5000 salvage value. 28 29 30 31 32 33 34 35 36 37 38 39 40 Telephone bill has not been received, estimated to be $500. Insurance policy had not been expensed for the month. Interest payable on the note taken for the car purchase has not been recorded, 5% interest rate General Journal Account Titles and Explanation Cash........... Hailey Walker, Capital... Investment by owner Supplies. I Cash.... Purchased store supplies for cash. Supplies......... Equipment Accounts Payable Notes Payable Purchase supplies and equipment on credit
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