Question
Nov1, 2020 Bob Langley establish a Personal Care business agency. The following transactions are for the first month of operation 1Nov1, 2020 Bob input $32,000
Nov1, 2020 Bob Langley establish a Personal Care business agency. The following transactions are for the first month of operation
1Nov1, 2020 Bob input $32,000 into the business bank account
2Nov2, 2020 Business bought equipment for $7,300 and signing a note for the balance
3Nov3, 2020 Business paid 6 months rent for $12,000
4Nov7, 2020 Business purchased $4320 office supplies on credit.
5Nov8, 2020 Billed the cleint for $17,200 services completed on account
6Nov9, 2020 Receive a bill from Adverstising agency for $2500 on account
7Nov12, 2020 found the defective supplies from the Nov7 purchase, return $500 supplies back to the supplier
8Nov15, 2020 paid amount due in the Nov9 transaction
9Nov20, 2020 Received $7,500 from the Nov8 transaction
10Nov25, 2020 Paid the balance due for Nov7 transaction
11Nov30, 2020 received the Nov utility bill for $830, it wil be paid in Dec, 2020
12Nov30, 2020 Paid employee salary for $6,300.
Please prepare journal entries for the above transactions.
Step by Step Solution
3.49 Rating (159 Votes )
There are 3 Steps involved in it
Step: 1
Solution Journal Entries In the books of Bob Langley Date Par...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started