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On June 1, 2016, Kim Wheeler established an interior decorating business, Intrex Designs. During the month, Kim completed the following transactions related to the business.

On June 1, 2016, Kim Wheeler established an interior decorating business, Intrex Designs. During the month, Kim completed the following transactions related to the business.

June 1 Kim transferred cash from a personal bank account to an account to be used for the business, $32,100.
4 Paid rent for period of June 4 to end of month, $3,110.
6 Purchased a truck for $27,000, paying $3,000 cash and giving a note payable for the remainder.
8 Purchased equipment on account, $12,520.
10 Purchased supplies for cash, $2,150.
12 Paid annual premiums on property and casualty insurance, $4,820.
15 Received cash for job completed, $13,480.
23 Paid creditor a portion of the amount owed for equipment purchased on June 13, $4,460.
24 Recorded jobs completed on account and sent invoices to customers, $15,340.
25 Received an invoice for truck expenses, to be paid in July, $1,410.
26 Paid utilities expense, $1,610.
27 Paid miscellaneous expenses, $580.
28 Received cash from customers on account, $6,420.
29 Paid wages of employees, $4,270.
30 Withdrew cash for personal use, $3,560.

Required:

1. Journalize each transaction in a two-column journal, beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) Journal entry explanations may be omitted. For a compound transaction, if an amount box does not require an entry, leave it blank.

11 Cash 31 Kim Wheeler, Capital
12 Accounts Receivable 32 Kim Wheeler, Drawing
13 Supplies 41 Fees Earned
14 Prepaid Insurance 51 Wages Expense
16 Equipment 53 Rent Expense
18 Truck 54 Utilities Expense
21 Notes Payable 55 Truck Expense
22 Accounts Payable 59 Miscellaneous Expense
General Journal Page 1
Date Description Post. Ref. Debit Credit
2016
June 1 Cash
Kim Wheeler, Capital
June 4 Rent Expense
Cash
June 6 Truck
Cash
Notes Payable
June 8 Equipment
Accounts Payable
June 10 Supplies
Cash
June 12 Prepaid Insurance
Cash
June 15 Cash
Fees Earned
General Journal Page 2
Date Description Post. Ref. Debit Credit
2016
June 23 Equipment
Accounts Payable
June 24 Accounts Receivable
Fees Earned
June 25 Truck Expense
Accounts Payable
June 26 Utilities Expense
Cash
June 27 Miscellaneous Expense
Cash
June 28 Cash
Accounts Receivable
June 29 Wages Expense
Cash
June 30 Kim Wheeler, Drawing
Cash

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