Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 4.1A (Algo) Recording transactions in the general journal. LO 4-1 The transactions that follow took place at the Desoto Recreation and Sports Arena during

image text in transcribedimage text in transcribedimage text in transcribed

Problem 4.1A (Algo) Recording transactions in the general journal. LO 4-1 The transactions that follow took place at the Desoto Recreation and Sports Arena during September 20X1. This firm has indoor courts where customers can play tennis for a fee. It also rents equipment and offers tennis lessons. DATE TRANSACTIONS Sept. 1 Issued Check 1169 for $1,500 to pay the September rent. 5 Performed services for $2,600 in cash. 6 Performed services for $1, 450 on credit. 10 Paid $620 for monthly telephone bill; issued Check 1170. 11 Paid for equipment repairs of $860 with Check 1171. 12 Received $3,300 on account from credit clients. 15 Issued Checks 1172 - 1177 for $4, 300 for salaries. 18 Issued Check 1178 for $2,100 to purchase supplies. 19 Purchased new tennis rackets for $2,350 on credit from The Tennis Supply Shop; received Invoice 3108, payable in 30 days. 20 Issued Check 1179 for $2,780 to purchase new nets. (Equip.) 21 Received $970 on account from credit clients. 21 Returned a damaged net and received a cash refund of $470. 22 Performed services for $3,280 in cash. 23 Performed services for $4, 870 on credit. 26 Issued Check 1180 for $480 to purchase supplies. 28 Paid the monthly electric bill of $2,270 with Check 1181. 30 Issued Checks 1182 - 1187 for $4, 300 for salaries. 30 Issued Check 1188 for $4, 300 cash to Ellis Carter for personal expenses. Required: Record each of the above transactions in the general journal. Analyze: If the company paid a bill for supplies on October 1, what check number would be included in the journal entry description? General Journal Analyze Record each of the above transactions in the general journal. View transaction list Journal entry worksheet Issued Check 1169 for $1,500 to pay the September rent. Note: Enter debits before credits. General Journal Debit Credit Date Sep 01 20X1 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. General Journal Analyze If the company paid a bill for supplies on October 1, what check number would be included in the journal entry description? Check 1181 Check 1189 Check 1180 Check 1188 Check 1179

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Management Accounting And Control

Authors: Don R. Hansen, Maryanne M. Mowen

5th Edition

0324233108, 978-0324233100

More Books

Students also viewed these Accounting questions