Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Puck-drop Sports Training helps train children in various sporting activities. During March 2019, the following transactions took place. Mar 2 Received maintenance bill for $480
Puck-drop Sports Training helps train children in various sporting activities. During March 2019, the following transactions took place.
Mar 2 | Received maintenance bill for $480 which will be paid next month. |
Mar 3 | Received $2,770 cash for training services provided. |
Mar 5 | Borrowed $8,000 cash from the bank. |
Mar 7 | Received $410 from a customer who owed money on training services already provided. |
Mar 10 | Prepaid $1,460 cash for services for one year. |
Mar 12 | Paid supplies expense of $150 for the month with cash. |
Mar 18 | Paid $660 cash to reduce the amount owed to a supplier. |
Mar 23 | Paid $65 interest on the bank loan. |
Prepare the journal entries for the above transactions.
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