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Nothing-but-net Sports Training helps train children in various sporting activities. During June 2019, the following transactions took place. Jun 2 Received maintenance bill for $730
Nothing-but-net Sports Training helps train children in various sporting activities. During June 2019, the following transactions took place.
Jun 2 | Received maintenance bill for $730 which will be paid next month. |
Jun 3 | Received $2,690 cash for training services provided. |
Jun 5 | Borrowed $5,000 cash from the bank. |
Jun 7 | Received $580 from a customer who owed money on training services already provided. |
Jun 10 | Prepaid $1,710 cash for rent for one year. |
Jun 12 | Paid advertising expense of $120 for the month with cash. |
Jun 21 | Paid $480 cash to reduce the amount owed to a supplier. |
Jun 27 | Paid $15 interest on the bank loan. |
Prepare the journal entries for the above transactions. Do not enter dollar signs or commas in the input boxes.
Date | Account Title and Explanation | Debit | Credit |
2019 | |||
Jun 2 | AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | |
AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | ||
To record receipt of maintenance bill | |||
Jun 3 | AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | |
AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | ||
To record cash sale | |||
Jun 5 | AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | |
AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | ||
To record borrowing of funds from bank | |||
Jun 7 | AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | |
AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | ||
To record collection of cash from a customer | |||
Jun 10 | AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | |
AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | ||
To record prepayment of rent | |||
Jun 12 | AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | |
AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | ||
To record payment of advertising expense | |||
Jun 21 | AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | |
AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | ||
To record payment to suppliers | |||
Jun 27 | AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | |
AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseBank LoanCashEquipmentInsurance ExpenseInterest ExpenseInterest PayableMaintenance ExpensePrepaid InsurancePrepaid RentPrepaid ServicesRent ExpenseSalaries ExpenseService RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned RevenueUtilities Expense | Answer | ||
Paid interest on bank loan | |||
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