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On this page of the practice set, you are asked to record all of the transactions that occurred during the month of June into the
On this page of the practice set, you are asked to record all of the transactions that occurred during the month of June into the General Journal of the business. The transactions for the month of June are as follows:
Date | Transaction description |
1 | Juliet Cohen invested $104,000 cash into the business. |
1 | Purchased Music Equipment for $48,000 cash. |
1 | Paid $8,000 for the next two month's advertising. |
1 | Obtained a long-term loan of $186,000 from the MRMC Bank. |
3 | Received $3,800 in cash from Mel O'Dius for music lessons provided on that day. |
5 | Purchased approximately two months worth of office supplies on credit for $3,300 from Black label. |
5 | Paid $160 for a non-refundable account set-up fee to the telephone provider. |
9 | Provided $4,200 of music lessons on credit for Obsenity Records. |
12 | Received $3,600 cash from D-Funkt Records for future music lessons. |
16 | Obsenity Records paid $1,500 in partial payment of their account. |
18 | Paid staff wages of $6,800 for the period up to and including yesterday. |
22 | Juliet Cohen withdrew $2,000 cash from the business. |
23 | Received a cash payment of $3,700 from students for music lessons provided on that day. |
25 | Made a partial payment of $1,650 for office supplies purchased on June 5. |
29 | Provided $6,000 of music lessons to KB Lo-Fi on credit. |
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