Answered step by step
Verified Expert Solution
Link Copied!

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

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

Modern Auditing

Authors: Walter Gerry Kell, William C. Boynton, Richard E. Ziegler

5th Edition

0471542830, 9780471542834

More Books

Students also viewed these Accounting questions

Question

How would you approach this unit?

Answered: 1 week ago