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 August 2022, the following transactions took place. Aug 1 Received maintenance bill for

 

Puck-drop Sports Training helps train children in various sporting activities. During August 2022, the following transactions took place. Aug 1 Received maintenance bill for $600 which will be paid next month. Aug 3 Received $2,860 cash for training services provided. Aug 6 Borrowed $6,000 cash from the bank. Aug 8 Received $410 from a customer who owed money on training services already provided. Aug 9 Prepaid $1,240 cash for rent for one year. Aug 12 Paid telephone expense of $110 for the month with cash. Aug 21 Paid $830 cash to reduce the amount owed to a supplier. Aug 28 Paid $47 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

The journal entries for the given transactions are as follows 1 Aug 1 Mainte... 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

College Accounting A Contemporary Approach

Authors: David Haddock, John Price, Michael Farina

4th edition

978-1259995057, 1259995054, 978-0077503987, 77503988, 978-0077639730

More Books

Students also viewed these Accounting questions

Question

Find f x (x, y) and f y (x, y). f(x, y) = 2x + 5y 3x + y

Answered: 1 week ago