Innovative Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.

Transactions
Oct.	1	Paid rent for the month, $2,300.
	4	Paid advertising expense, $700.
	5	Paid cash for supplies, $1,250.
	6	Purchased office equipment on account, $9,600.
	12	Received cash from customers on account, $17,000.
	20	Paid creditor on account, $3,050.
	27	Paid cash for miscellaneous expenses, $560.
	30	Paid telephone bill for the month, $300.
	31	Fees earned and billed to customers for the month, $51,470.
	31	Paid electricity bill for the month, $810.
	31	Paid dividends, $1,750.

CHART OF ACCOUNTS

Innovative Consulting Co.

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Supplies
14	Office Equipment

	LIABILITIES
21	Accounts Payable

	EQUITY
31	Common Stock
32	Retained Earnings
33	Dividends

	REVENUE
41	Fees Earned

	EXPENSES
51	Rent Expense
52	Advertising Expense
53	Utilities Expense
54	Miscellaneous Expense

X

Journal

Journalize the transactions for October 20Y2 in a two-column journal. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
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