Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Michigan Sales Consultants completed the following transactions during the later part of January (Click the icon to view the transadtions.) Journalize the transactions of Michigan

image text in transcribed
image text in transcribed
image text in transcribed
Michigan Sales Consultants completed the following transactions during the later part of January (Click the icon to view the transadtions.) Journalize the transactions of Michigan Sales Consultants. Include an explanation with each jounal entry. (Record debits first, then credts. Select the explanation on the last line of the joumal entry table) Jan. 22: Performed services for stomers on account, $8,500. Accounts and Explanation Debit Credit More Into Jan. 22 Jan 22 Performed services for eustomers on sccount, $4.500 0 Received cash on account from customers, $5.000 31 Received aubility bll, $200, which will be paid during February 1 Paid monthiy salary to saleman $1.300 Jan. 30: Received cash on account from customers, 35,000 Accounts and Explanation Received $2,100 for thee months of corsulting service to be pertomd vtarting in February Cash dividends of $700 were paid to slockds Date Jan. 30 Print Done Michigan Sales Consultants completed the following transactions during the latter part of January Click the loon to view the transactions Jounalize the transactions ofl Michigan Sales Consultants Include an esplanation with each journal entry (Record debils frst then credits. Select the explanation on the last line of the journal entry table) Jan. 31: Received $2,100 for three months of consulting service to be performed starting in February More Into Accounts and Explanation Debit Credit Jan 31 Jan 22 Performed services for customers on account, $8.500 30 Received cash on account from ouslomers, $5,000 31 Received aulity bll 8200, which will be pasd during Fetruary 1 Paid monthly salary to salesman $1,300 11 Received 12,100 for theee monts of consuling service to be perforned Jan 31: Cash dividends of $700 were paid to stockholders starting in February Accounts and Explanation Debit 1 Cash dividends of $700 were paid to stockholders Jan 31 Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Creative And Innovative Auditing

Authors: Jeffrey Ridley

1st Edition

1472474627, 9781472474629

More Books

Students also viewed these Accounting questions

Question

What are the functions of top management?

Answered: 1 week ago

Question

Bring out the limitations of planning.

Answered: 1 week ago

Question

Why should a business be socially responsible?

Answered: 1 week ago

Question

Discuss the general principles of management given by Henri Fayol

Answered: 1 week ago