Question 5

You are presented with the following transactions for J. Green, a sole proprietorship established in the month of August:

Aug. 2 The owner, Jason Green, invested $30,100 in the business.

Aug. 2 Purchased supplies on account for $470.5 Purchased equipment for $8,600 by signing a note payable due in three months.

Aug. 9 Earned service revenue of $12,900. Of this amount, $6,500 was received in cash. The balance was on account.

Aug.14 Paid salaries of $1,000.

Aug.15 Paid Jason Green $3,700 for his personal use.

Aug.19 A customer paid $2,100 in advance for services to be provided next month.

Aug. 22 Paid the balance owing for the supplies purchased on August 2.

Aug. 25 Collected the $6,400 of the amount owing from the August 9 transaction.

Aug. 26 Paid office expense of $2,800.

Aug. 30 Paid interest of $40 on the note payable signed on August 5.

Journalize the August transactions.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)