journal entry
Transaction List Sept. 1 Purchased new office furniture of S6,000 by signing a one-year note payable with vendor. The stated interest rate is 10%. Purchased 30 units of the new coffee table books from supplier, Art Image, on account for $14.50 each. Credit terms are 2/10, n/30. Shipping terms are FOB Destination. Freight charges on this order amount to $35. 3 Was granted allowance from Art Image for 2 defective units of coffee table book 4 Paid landlord $1,200 for rent for business space. 5 Billed Mr. Barclay $200 for individual photo consulting work. 6 Sold 15 coffee table books to Book Cove, a local bookseller, for $22.50 each. Credit terms are 2/10, 1/30 and shipping is FOB Destination. Freight charges amount to $40.00 7 Completed $3,800 photo shoot for Swiggs Bar & Grille. The entire balance in "Customer Deposits" represents the prepayment from this customer on August 24th 8 Paid utility bill to PG&E from last month (previously accrued). 9 Received full customer payment from LaSalle Co. 10 Billed Coast West for corporate video services amounting to $3,500. 11 Sold 4 coffee table books to Wine Country Restaurant for $22.50 each. Credit terms are 2/10 n/30 and shipping is FOB Destination. Freight charges amount to S20.00 12 | Billed client Betsy Alder and Keith Barnook $400 for preliminary photos completed 13 Paid $6,200 for two weeks' salaries earned by employees. In addition to this biweekly salary, the previously accrued salaries of S1,260 was paid. 14 Book Cove returned 1 unit. Finito granted customer an allowance and returned the unit to inventory 15 | Received payment from Book Cove for earlier purchase of coffee table books. 16 Received $12,000 cash from corporate client, CocoReno athletic Wear, for photo services, 17 Sold 5 coffee table books to Recycle Books for $22.50 each. Credit terms are 2/10, 1/30 and shipping is FOB Destination. Freight charges amount to S20.00. 18 Received full customer payment from The Verb. 19 Paid to Office Super the full balance owed. 20 New customer Mystic Caf prepaid $2,000 for their photo shoot schedule in October 21 Received payment from Recycle Books 22 Owner took out $5,000 for the month. 23 Paid Art Image for balance owed. 24 Mr. Barclay notified Tony that he would be unable to pay his account due to his pending bankruptcy. 25 Received September's utility bill from PG&E for $105. It will be paid next month. 27 Paid $6,200 for two weeks' salaries earned by employees. 30 Sold old office equipment for $1,900. This office equipment was purchased August 1st at a cost of $4.000 and was estimated to have annual depreciation expense of $800 per year
