Question
Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger. December 2 Paid $930 cash to
Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger.
December 2 | Paid $930 cash to Hillside Mall for Business Solutions's share of mall advertising costs. |
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December 3 | Paid $500 cash for minor repairs to the companys computer. |
December 4 | Received $4,350 cash from Alexs Engineering Company for the receivable from November. |
December 10 | Paid cash to Lyn Addie for six days of work at the rate of $115 per day. |
December 14 | Notified by Alexs Engineering Company that Business Solutions's bid of $7,300 on a proposed project has been accepted. Alexs paid a $1,700 cash advance to Business Solutions. |
December 15 | Purchased $2,000 of computer supplies on credit from Harris Office Products. |
December 16 | Sent a reminder to Gomez Company to pay the fee for services recorded on November 8. |
December 20 | Completed a project for Liu Corporation and received $5,675 cash. |
December 22-26 | Took the week off for the holidays. |
December 28 | Received $3,600 cash from Gomez Company on its receivable. |
December 29 | Reimbursed S. Rey for business automobile mileage (500 miles at $0.26 per mile). |
December 31 | Paid $1,400 cash for dividends. |
The December 31 inventory count of computer supplies shows $580 still available.
Three months have expired since the 12-month insurance premium was paid in advance.
As of December 31, Lyn Addie has not been paid for four days of work at $115 per day.
The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
Three of the four months' prepaid rent have expired
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