Question
Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred. July 3 Jake
Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred. July 3 Jake provides lawn services to Lukes repair shop on account, $470. July 6 One of Jakes mowers malfunctions. Luke provides repair services to Jake on account, $420. July 9 Luke pays $470 to Jake for lawn services provided on July 3. July 14 Luke borrows $570 from Jake by signing a note. July 18 Jake purchases advertising in a local newspaper for the remainder of July and pays cash, $110. July 20 Jake pays $420 to Luke for services provided on July 6. July 27 Luke performs repair services for other customers for cash, $770. July 30 Luke pays employee salaries for the month, $270. July 31 Luke pays $570 to Jake for money borrowed on July 14.
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Required: Record the transactions for Jakes Lawn Maintenance Company. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet 2 3 4 5 6 7 8 9 Jake provides lawn services to Luke's repair shop on account, $470. Note: Enter debits before credits. General Journal Debit Credit Date July 03 Record entry Clear entry View general journal Journal entry worksheetStep by Step Solution
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