Question
Please classify each transaction with Debit side and Credit side; GENERAL JOURNALS: 1] Company received cash $3,000 for providing services. 2] Owner invested additional $10,000
Please classify each transaction with Debit side and Credit side;
GENERAL JOURNALS:
1] Company received cash $3,000 for providing services.
2] Owner invested additional $10,000 to company
3] Company purchased supplies $500 on account
4] Company received cash $15,000 in advance for future project.
5] Company received the bill from advertising company $800 and will pay later.
6] Company pay rental expenses $5,000, utilities expenses $500, salaries expenses $3,000, insurance $500
7] Company sold 100 units with total amount $1,000. Customer will pay next month
8] Company borrow money $3,000, interest rate 4% for business purpose
9] Owner withdraw $1,500 for personal use.
10] Company purchased machinery $ 8,000
Date | ITEMS | Debit | Credit |
1 |
|
|
|
2 |
|
|
|
3 |
|
|
|
4 |
|
|
|
5 |
|
|
|
6 |
|
|
|
7 |
|
|
|
8 |
|
|
|
9 |
|
|
|
10 |
|
|
|
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