Question
Make a General Journal from the information below 8/1 Sarah took out a mortgage with Sun Bank to purchase a studio for $100,000 to grow
Make a General Journal from the information below
8/1 Sarah took out a mortgage with Sun Bank to purchase a studio for $100,000 to grow the business.
8/2 Bought $7,000 of furniture from Furniture Superstore with her store credit card.
8/3 Bought $2,000 worth of supplies on account. The vender is Photo Supplies R Us.
8/4 Bought $3,000 photo paper, frames, and materials for photo books to be sold from Photo Supplies R Us. She charges $220 per hour for the service she provides. Sarah includes sales tax in the sale price.
8/5 Bought a 6-Month insurance policy from All State for $850
8/6 Was hired to be the photographer for Stacy Chapburns wedding. Stacy gave Studio 16 a deposit of $1,000 to hold the date
8/7 Amy Fackler, a previous cash customer, came back and bought 2 photo books from Studio 16 for $100 a piece, but only paid $50. Those books studio 16 $14 a piece.
8/13 Hired an assistant, Marty Costello, for the Chapburn wedding and paid him $400
8/20 Paid utility bills to PSE&G totaling $500
8/22 was paid $4,000 up front from Christine Zimmer for her engagement photos and upcoming wedding.
9/1 paid mortgage of $1,000. ($300 went towards principal, $250 went towards interest, and $450 went towards real-estate taxes)
9/15 Took senior pictures all last week (40 hours) for Triton High School seniors totaling $8,800, but did not get paid immediately
9/15 Paid off our bill from Photo Supplies R Us
9/15 Made payment to the Furniture Superstore Credit Card for $500 ($400 went to principal; $100 went to interest)
10/1 Received payment of $5,000 from Triton High School.
10/1 Paid mortgage of $1,000. ($300 went towards principal, $250 went towards interest, and $450 went towards realestate taxes)
10/5 You complete Christines engagement photos and wedding that was paid in full up front. Her total order included 2 days of photographing (12 hours) a photo book for $1,360 that cost Studio 16 $350.
10/28 Performed Stacys wedding for a total of $3,500 Less the deposit. (Included in that $3,500 was the sale of a photo book for $1,000 and frame pictures sold for $800. The inventory sold cost Studio 16 $300)
10/30 Sarah includes sales tax in all sale prices charged to the customer. She is still responsible to pay the 7% sales tax on her sales for this quarter to be paid 12/1.
10/30 Sarah realizes she can depreciate her camera at a rate of $700 per year.
10/30 The owner withdrew $2,500 from the business.
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