On June 1, 2019, Kris Storey established an interior decorating business, Eco Centric Designs. During the month, Kris completed the following transactions related to the business: June 1 Kris transferred cash from a personal bank account to an account to be used for the business, $25,700, Paid rent for period of June 4 to end of month, $2,490 6 Purchased a used truck for $21,000, paying $2,000 cash and giving a note payable for the remainder 8 Purchased equipment on account, $10,020. 10. Purchased supplies for cash $1,720, 12. Paid annual premiums on property and casualty Insurance, $3,860 15. Received cash for job completed, $10,790, Enter the following transactions on Page 2 of the two-column journals 23 Pald creditor a portion of the amount owed for equipment purchased on June 13, 53,570. Recorded Jobs completed on account and sent invoices to customers, $12,280 Received an invoice for truck expenses to be cald in July, 51 130 26 paid utiles expense 51,290 Paid miscellaneous expenses, 54602 24 Tecewed cash from customers on account 15140 29 Dald wages of employees 53:420 30 Withdrew cash for personal use, $2,850. 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 Kris Storey, Capital 32 Kris Storey, Drawing 12 Accounts Receivable 41 Fees Earned 13 Supplies 51 Wages Expense 14 Prepaid Insurance 53 Rent Expense 16 Equipment 54 Utilities Expense 19 Truck 55 Truck Expense 21 Notes Payable 59 Miscellaneous Expense ounts Payable eBook Show Me How Page 1 General Journal Post. Ref. Debit Credit Date Description 2019 June Cash 1 June Cash 4 June Notes Payable I IIIIII 6 Cash Truck Expense June Cash 8 Equipment Pune 10 une 10 June 12 June 15 General Journal Description Page 2 Credit Date Post. Ref. Debit 2019 June 23 11 June 24 23 June 24 June 25 June 11111 26 June 27 Bune 28 June June 28 June 29 June 30 journal as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. If an amount box does not require an entry, leave it blank General Ledger 11 ACCOUNT NO Account Cash Balance Credit Date Debit Item Debit Post. Rel Credit 2019 Sune: une 4 Dune June 10 June 12 June is une 2 26 June 27 une 20 June 28 June 29 June 30 Account 12 Accounts Receivable ACCOUNT NO Balance Date Item Credit Post. Ref. Debit Credit Debit 2019 (June 24 June 2 Account Equipment ACCOUNT NO 16 Balance Date Item Debit Debit Credit Credit Post. Ref. 2019 June 8 18 ACCOUNT NO. Account Truck Balance Credit Debit Credit Date Item Debit Post. Ref 2019 June 6
