Answered step by step
Verified Expert Solution
Question
1 Approved Answer
on list ion 1 Judy Bennett started her practice as a design consultant on September 1, 2024. During the first month of operations, the
on list ion 1 Judy Bennett started her practice as a design consultant on September 1, 2024. During the first month of operations, the business completed the following transactions Click the icon to view the transactions) Read the requirements on 2 Requirement 1. Record each transaction in the journal using the following account les Cast: Accounts Receivable; Office Supplies: Prepaid Insurance, Land, Fumiture: Accounts Payable, Utities Payable: Uneamed Revenue Common Stock Dividends: Service Revenue: Salaries Expense Rent Expense and Utilities Expense Explanations are not required. (Recond debits first, then credits Exclude explanations from journal entries) Sep. 1: Received $38,000 cash and issued common stock to Bennett Date Sep. 1 Accounts More info Sep, 1 Sep. 4 Sep. Received $38.000 cash and issued common stock to Bennet Purchased office supples 5500, and furniture, $1,400 on account Performed services for a law firm and received $1.700 cash Sep. 7 Paid $25,000 cash to acquire land to be used in operations Sep. 10 Sep. 14 Performed services for a hotel and received its promise to pay the $1,600 within one week Paid for the fumiture purchased on September 4 on account Sep. 15 Paidant's semimonthly salary: $1,490 Sep. 17 Received cash on account $1,400. Sep. 20 Prepared a design for a school on account, $750 Sep. 25 Sep. 28 Received $2,000 cash for design services to be performed in October Received $2,000 cash for consulting with Plummer & Gordon Sep. 29 Sep. 30 Paid $960 cash for a 12-month insurance policy starting on October 1 Padant's semimonthly salary $1,400 Sep. 30 Paid monthly rent expense. 5400 Sep. 30 Received a bill for utes. $300. The bill will be paid next month Sep. 30 Paid cash dividends of $3.900 Print Done Debit Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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