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Johnstone Controls had the following situations on December 2021. On March 31, 2021, the company lent $39,000 to another company. A note was signed with
Johnstone Controls had the following situations on December 2021.
- On March 31, 2021, the company lent $39,000 to another company. A note was signed with principal and interest at 8% payable on March 31, 2022.
- On September 30, 2021, the company paid its landlord $10,400 representing rent for the period September 30, 2021, to September 30, 2022. Johnstone debited prepaid rent.
- Supplies on hand at the end of 2020 totaled $2,110. Additional supplies costing $5,110 were purchased during 2021 and debited to the supplies account. At the end of 2021, supplies costing $2,910 remain on hand.
- Vacation pay of $8,440 for the year that had been earned by employees was not paid or recorded. The company records vacation pay as salaries expense.
Need 4 JOURNAL ENTRY TRANSACTION WORKSHEETS
GENERAL JOURNAL. DEBT. CREDIT.
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