Problem 2-5 Transaction Analysis, General Journal, Ledger Accounts, and Trial Balance

Nordtown Corporation is a marketing firm. The corporation's trial balance on August 31, 2014, follows.

Nordtown Corporation
Trial Balance
August 31, 2014
Cash (111)	10,590
Accounts Receivable (113)	5,500
Office Supplies (116)	610
Office Equipment (146)	4,200
Accounts Payable (212)			2,600
Common Stock (311)			12,000
Retained Earnings (312)			6,300
	20,900		20,900

During the month of September, the corporation completed the following transactions:

Sept. 2		Paid rent for September, $650.
3		Received cash from customers on account, $2,300.
7		Ordered supplies, $380.
10		Billed customers for services provided, $2,800.
12		Made a payment on accounts payable, $1,300.
14		Received the supplies ordered on September 7 and agreed to pay for them in 30 days, $380.
17		Discovered some of the supplies were not as ordered and returned them for full credit, $80.
19		Received cash from a customer for services provided, $4,800.
24		Paid the utility bill for September, $250.
26		Received a bill, to be paid in October, for advertisements placed in the local newspaper during the month of September to promote Nordtown Corporation, $700.
29		Billed a customer for services provided, $2,700.
30		Paid salaries for September, $3,800.
30		Declared and paid a dividend of $800.

Hint(s)

1. Enter the above transactions in the general journal (Page 22). The Post. Ref. numbers for various accounts: Dividends (313); Marketing Fees (411); Salaries Expense (511); Utilities Expense (512); Rent Expense (514); and Advertising Expense (516). If no entry is required, select "No entry required" and leave the amount boxes blank.

GENERAL JOURNAL
Page 22
	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1	2014					1
2	Sept. 2	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 1 of Item 1				2
3		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 4 of Item 1				3
4						4
5	3	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 7 of Item 1				5
6		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 10 of Item 1				6
7						7
8	7	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 13 of Item 1				8
9		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 16 of Item 1				9
10						10
11	10	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 19 of Item 1				11
12		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 22 of Item 1				12
13						13
14	12	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 25 of Item 1				14
15		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 28 of Item 1				15
16						16
17	14	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredOffice SuppliesRent ExpenseUtilities ExpenseCorrect 31 of Item 1				17
18		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 34 of Item 1				18
19						19
20	17	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 37 of Item 1				20
21		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredOffice SuppliesRent ExpenseUtilities ExpenseCorrect 40 of Item 1				21
22						22
23	19	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 43 of Item 1				23
24		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 46 of Item 1				24
25						25
26	24	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 49 of Item 1				26
27		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 52 of Item 1				27
28						28
29	26	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 55 of Item 1				29
30		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashMarketing FeesNo entry requiredRent ExpenseSuppliesUtilities ExpenseCorrect 58 of Item 1				30
31						31
32	29	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsMarketing FeesSalaries ExpenseUtilities ExpenseCorrect 61 of Item 1				32
33		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsMarketing FeesSalaries ExpenseUtilities ExpenseCorrect 64 of Item 1				33
34						34
35	30	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsMarketing FeesSalaries ExpenseUtilities ExpenseCorrect 67 of Item 1				35
36		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsMarketing FeesSalaries ExpenseUtilities ExpenseCorrect 70 of Item 1				36
37						37
38	30	SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsMarketing FeesSalaries ExpenseUtilities ExpenseCorrect 73 of Item 1				38
39		SelectAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsMarketing FeesSalaries ExpenseUtilities ExpenseCorrect 76 of Item 1				39
40						40
41						41