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On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month Kris completed the following transactions related to the business
On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month Kris completed the following transactions related to the business . 1 Kris transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $27,200 1 Paid rent for period of November 1 to end of month, $4,000 6 Purchased office equipment on account, $12,820 8 Purchased a truck for $30,800 paying $6,900 cash and giving a note payable for the remainder. 10 Purchased supplies for cash, $1,650. 12 Received cash for job completed, 58.000 15 Paid annual premiums on property and casualty insurance, $2,300. 23 Recorded jobs completed on account and sent invoices to customers, $12,000. Dacimod an invoice for truck aynancac to bannid in Novembar 51100 Instructions 24 Received an invoice for truck expenses, to be paid in November, $1,190 Enter the following transactions on Page 2 of the two-column journal Nov. 29 Paid utilities expense, $3,560 29 Paid miscellaneous expenses, $1,800 30 Received cash from customers on account, $7,500 30 Paid wages of employees, $4,750. 30 Paid creditor a portion of the amount owed for equipment purchased on November 6, 56,230 30 Paid dividends, $2,000 Required: Lokalna sanktannnatian in natum inucnathaminninman Dosa trafocion to the bad of account in solastinate anciento Instructions 30 Paid dividends. $2,000 Required: 1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2) Refer to the Chart of Accounts for exact wording of account titles
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