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Joey Juno began a web - based computer sales and service company on November 1 , 2 0 0 8 , called Juno's Toys. Joey
Joey Juno began a webbased computer sales and service company on November called Juno's Toys. Joey has made a few decisions regarding the accounting system. All prepayments and unearned revenues will be recorded as assets and liabilities, and the company will use a periodic inventory system. Juno's Toys completed those transactions during November of the current year. November Joey invested $ cash, along with $ of used computer equipment, into his business. November purchased eight months of insurance at $ cash. The insurance is effective immediately. November hired a computer technician named Barry to be paid every two weeks. November hired a computer technician. November $ of merchandise was purchased from Eastman Store on account terms N Freight was paid an amount of $ for the above purchase. November bought $ of office supplies on account. November sold merchandise to John Smith that cost $ for $ Mr Smith paid $ cash and put the rest on account with terms N November bought office furniture for $ Advertising to appear next month. November the company received $ for services to be completed over the next two months. November Mr Smith paid his account in full. November paid in full Eastman Store for purchases on the November November received a bill from the utilities company for November Utilities. In the amount of $ the amount was due December November paid November and December rent today. Monthly rent is $ Prepare journal entries to record the transactions.
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