Question
Prepare general journal entries for the following transactions of a business called Hellens Consulting Company in 2021. Make sure all blanks are filled in for
Prepare general journal entries for the following transactions of a business called Hellens Consulting Company in 2021. Make sure all blanks are filled in for each transaction. (15 points)
On Jan 1st, Hellen, the owner, invested $48,000 cash and $5,000 equipment in the business.
On Jan 3rd, Hellen paid $1,500 cash for an insurance policy covering the next 24 months.
On Jan 8th, Hellen provided services worth $800 to a client named Jake. Jake immediately paid $200 in cash to Hellen, and promised to pay the remainder later.
On Jan 15th, Hellen purchased office supplies for $1,000 by making a down payment of $200 cash and setting up a note payable for the remainder.
On Jan 20th, a new client immediately pays $1,400 for services to be performed at a later date.
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