Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ractice: Knowledge Check Saved On October 1, 2019, Helen Kennedy opened an advertising agency DATE TRANSACTIONS Oct. 1 Helen Kennedy invested $78,800 cash in the
ractice: Knowledge Check Saved On October 1, 2019, Helen Kennedy opened an advertising agency DATE TRANSACTIONS Oct. 1 Helen Kennedy invested $78,800 cash in the business 2 Paid October office rent of $4,000; issued Check 1001. 5 Purchased desks and other office furniture for $18,e00 from Office Furniture 0.33 polnts Mart, Inc.; received Invoice 6704 payable in 60 days. 6 Issued Check 1802 for $4,100 to purchase art equipment. 7 Purchased supplies for $1,676; paid with Check 1003 18 Issued Check 1084 for $880 for office cleaning service 12 Performed services for $4,280 in cash and $1,888 on credit. (Use a compound 15 Returned damaged supplies for a cash refund of $380. eBlook References 18 Purchased a computer for $3,000 from Office Furniture Mart, Inc., Invoice 7108; issued Check 18e5 for a $1,7s0 down payment, with the balance payable in 30 days. (Use one compound entry.) 20 Issued Check 1096 for $9,500 to Office Furniture Mart, Inc., as payment on account for Invoice 6784. 26 Performed services for $4,800 on credit. 27 Paid $375 for monthly telephone bill; issued Check 1807. 30 Received $4,280 in cash from credit customers 30 Mailed Check 1808 to pay the monthly utility bill of $1,880 38 Issued Checks 1089-1011 for $9,ee0 for salaries- Required: 1. Journalize the above transactions 2. Post the above transactions to the ledger accounts. Analyze
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