PCMOT] - Excel ( C a mpoyta) Accounting exercises week 1 201) 2 0 A r . , tn 16 1 X f The company paid $4,800 for transportation services for the students for 8 months P Q R M N O Recording Transactions in General Journal and posting them to the corresponding Ledger Accounts 2 Prepare the journal entries for the following transactions in the General Journal (36%) 3 Evelyn Smith created a corporation named Great Rythm, which offers music lessons. The business transactions during December 2018 while the company was being organized are listed below 4 Dec, 1 Smith and several others invested $1.200.000 cash in the business 6 Dec. 5 The company paid $4800 for transportation services for the students for 8 months Dec. 11 The company purchased facilities for $600.000, of which $400,000 was applicable to the land and $200.000 to the building A cash payment of $100.000 was made and a note payable was issued for the balance of the purchase price. 9 Dec. 12 A 12-month insurance policy of $2.400 was signed and fully paid with Mapfre Insurance Company 11 Dec. 22 Sheet music supplies to last for several months were purchased from Happy Notes for $400 on account Dec. 23 Smith received an advanced payment of $220.000 from Forest Heights High School for services to be performed in the future 27 Pad Happy Notes 5150 as partial payment on the account payable for sheet music supplies purchased on December Dec. 28 Paid $12.200 to employees for work done during December Dec 29 Billed clients $185.000 for work performed in December 19 Date Credit 1200000 Journal entries g o . , P13 - X for M N O P Recording Transactions in General Journal and posting them to the corresponding Ledger Accounts. 2 Prepare the journal entries for the following transactions in the General Journal. (36%) 3 Evelyn Smith created a corporation named Great Rythm, which offers music lessons. The business transactions during December 2018 while the company was being organized are listed below. 4 Dec. 1 Smith and several others invested $1.200.000 cash in the business GU 6 Dec. 5 Dec. 11 The company paid $4,800 for transportation services for the students for 8 months. The company purchased facilities for $600,000, of which $400,000 was applicable to the land and $200,000 to the building. A cash payment of $100,000 was made and a note payable was issued for the balance of the purchase price A 12-month insurance policy of $2.400 was signed and fully paid with Mapfre Insurance Company. 9 Dec. 12 Dec. 22 Sheet music supplies to last for several months were purchased from Happy Notes for $400 on account Dec. 23 the future Smith received an advanced payment of $220,000 from Forest Heights High School, for services to be performed in Dec. 27 Paid Happy Notes $150 as partial payment on the account payable for sheet music supplies purchased on December Dec. 28 Paid $12.200 to employees for work done during December. Dec. 29 Billed clients $185,000 for work performed in December. Cash Capital stock 1 200 000 Debit Credit 1 200 000 19 Date Accounts title 20 ex.01 Cash Journal entries 1 200 000 + Accounting Equation p