Journalizing and Posting Transactions Cincinnati Painting Service Inc specializes in painting houses During June, its first month of operations, Cincinnati Painting engaged in the following transactions June 1 Issued common stock for $25,000 3 Purchased painting supplies from River City Supply for $1,675 on credit 8 Purchased a used truck from Hamilton Used Car Sales for $13,700, paying $1,500 down and agreeing to pay the balance in 6 months 14 Paid $4,230 to hourly employees for work performed in June 22 Billed various customers a total of $10,340 for June painting jobs 26 Received $6,100 cash from James Eaton for a house painting job completed and previously billed 29 Collected $520 from Albert Montgomery on completion of a 1 day painting job This amount is not included in the June 22 bills 1 Prepare a journal entry for each transaction If an amount box does not require an entry, leave it blank a June 1 June 3 June 8 June 14 June 22 June 26 June 29 2 Post the journal entries to the appropriate T accounts Cash Accounts Receivable End Bal End Bal Supplies Trucks End Bal End Bal Accounts Payable Notes Payable End Bal End Bal Common Stock Service Revenue End Bal End Bal Wages Expense End Bal

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Journalizing and Posting Transactions Cincinnati Painting Service Inc. specializes in painting houses. During June, its first month of operations, Cincinnati Painting engaged in the following

Journalizing and Posting Transactions

Cincinnati Painting Service Inc. specializes in painting houses. During June, its first month of operations, Cincinnati Painting engaged in the following transactions:

June. 1		Issued common stock for $25,000.
3		Purchased painting supplies from River City Supply for $1,675 on credit.
8		Purchased a used truck from Hamilton Used Car Sales for $13,700, paying $1,500 down and agreeing to pay the balance in 6 months.
14		Paid $4,230 to hourly employees for work performed in June.
22		Billed various customers a total of $10,340 for June painting jobs.
26		Received $6,100 cash from James Eaton for a house painting job completed and previously billed.
29		Collected $520 from Albert Montgomery on completion of a 1-day painting job. This amount is not included in the June 22 bills.

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1. Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it blank. a June 1 June 3 June 8 June 14 June 22 June 26 June 29 2. Post the journal entries to the appropriate T-accounts. Cash Accounts Receivable End. Bal. End. Bal. Supplies Trucks End. Bal. End. Bal. Accounts Payable Notes Payable End. Bal. End. Bal. Common Stock Service Revenue End. Bal. End. Bal. Wages Expense End. Bal