refer to the chart of accounts pic at the end! thx.
PART 1: Journal Entries Smart Touch Learning began operations on December 1. Record the business' transactions for the month of December. Explanations are not required. Refer to the Chart of Accounts for account titles. Smart Touch Learning began operations on December 1 by receiving $21,300 cash and furniture of a fair value of $14,700 from James Smith. The business issued Smith shares of common stock in exchange for this contribution. Paid $1,700 cash for a four-month insurance policy. The policy begins December 1 . Paid $540 cash for office supplies, December 4. Performed services for a customer and received $2,600 cash, December 12 . Completed a large job, billed the customer, \$3,700, December 15 . Paid employee salary, \$2,600, December 18. Received $12,800 cash for performing services, December 20. Collected $3,200 in advance for a service to be performed later, December 22. Collected $3,700 cash from customer on account, December 23. Received a $210 utility bill to be paid at a later time, December 27. Performed services on account, 5700 , December 28. Paid December's rent, \$1,700, on December 29. Paid $210 on account, December 30 . Cash dividends of $4,900 were paid to stockholders, December 31. \begin{tabular}{|l|l|} \hline Account & Account Title \\ \hline Number & \\ \hline 101 & Cash \\ \hline 105 & Accounts Receivable \\ \hline 110 & Interest Receivable \\ \hline 112 & Notes Receivable \\ \hline 115 & Office Supplies \\ \hline 120 & Prepaid Insurance \\ \hline 125 & Prepaid Rent \\ \hline 130 & Short-term Investments \\ \hline 140 & Long-term Investments \\ \hline 145 & Building \\ \hline 146 & Accumulated Depreciation -Building \\ \hline 150 & Equipment \\ \hline 151 & Accumulated Depreciation -Equipment \\ \hline 155 & Furniture \\ \hline 156 & Accumulated Depreciation -Furniture \\ \hline 160 & Office Furniture \\ \hline \end{tabular} \begin{tabular}{|l||l|} \hline 160 & Office Furniture \\ \hline 161 & Accumulated Depreciation -Office Furniture \\ \hline 165 & Truck \\ \hline 166 & Accumulated Depreciation -Truck \\ \hline 170 & Land \\ \hline 175 & Copyright \\ \hline 178 & Franchise \\ \hline 180 & Patent \\ \hline 182 & Trademark \\ \hline 201 & Accounts Payable \\ \hline 205 & Rent Payable \\ \hline 210 & Salaries Payable \\ \hline 215 & Utilities Payable \\ \hline 220 & Interest Payable \\ \hline 225 & Dividends Payable \\ \hline 235 & Unearned Revenue \\ \hline 250 & Notes Payable \\ \hline 255 & Mortgages Payable \\ \hline 260 & Premium on Bonds Payable \\ \hline 301 & Common Stock \\ \hline 315 & Retained Earnings \\ \hline \hline 220 & nividonds \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline 250 & Notes Payable \\ \hline 255 & Mortgages Payable \\ \hline 260 & Premium on Bonds Payable \\ \hline 301 & Common Stock \\ \hline 315 & Retained Earnings \\ \hline 320 & Dividends \\ \hline 325 & Income Summary \\ \hline 410 & Service Revenue \\ \hline 420 & Dividend Revenue \\ \hline 430 & Interest Revenue \\ \hline 505 & Advertising Expense \\ \hline 510 & Delivery Expense \\ \hline 515 & Depreciation Expense \\ \hline 520 & Insurance Expense \\ \hline 525 & Interest Expense \\ \hline 535 & Repairs and Maintenance \\ \hline 540 & Expense \\ \hline 545 & Rent Expense \\ \hline 550 & Salaries Expense \\ \hline 555 & Supplies Expense \\ \hline \end{tabular} PART 1: Journal Entries Smart Touch Learning began operations on December 1. Record the business' transactions for the month of December. Explanations are not required. Refer to the Chart of Accounts for account titles. Smart Touch Learning began operations on December 1 by receiving $21,300 cash and furniture of a fair value of $14,700 from James Smith. The business issued Smith shares of common stock in exchange for this contribution. Paid $1,700 cash for a four-month insurance policy. The policy begins December 1 . Paid $540 cash for office supplies, December 4. Performed services for a customer and received $2,600 cash, December 12 . Completed a large job, billed the customer, \$3,700, December 15 . Paid employee salary, \$2,600, December 18. Received $12,800 cash for performing services, December 20. Collected $3,200 in advance for a service to be performed later, December 22. Collected $3,700 cash from customer on account, December 23. Received a $210 utility bill to be paid at a later time, December 27. Performed services on account, 5700 , December 28. Paid December's rent, \$1,700, on December 29. Paid $210 on account, December 30 . Cash dividends of $4,900 were paid to stockholders, December 31. \begin{tabular}{|l|l|} \hline Account & Account Title \\ \hline Number & \\ \hline 101 & Cash \\ \hline 105 & Accounts Receivable \\ \hline 110 & Interest Receivable \\ \hline 112 & Notes Receivable \\ \hline 115 & Office Supplies \\ \hline 120 & Prepaid Insurance \\ \hline 125 & Prepaid Rent \\ \hline 130 & Short-term Investments \\ \hline 140 & Long-term Investments \\ \hline 145 & Building \\ \hline 146 & Accumulated Depreciation -Building \\ \hline 150 & Equipment \\ \hline 151 & Accumulated Depreciation -Equipment \\ \hline 155 & Furniture \\ \hline 156 & Accumulated Depreciation -Furniture \\ \hline 160 & Office Furniture \\ \hline \end{tabular} \begin{tabular}{|l||l|} \hline 160 & Office Furniture \\ \hline 161 & Accumulated Depreciation -Office Furniture \\ \hline 165 & Truck \\ \hline 166 & Accumulated Depreciation -Truck \\ \hline 170 & Land \\ \hline 175 & Copyright \\ \hline 178 & Franchise \\ \hline 180 & Patent \\ \hline 182 & Trademark \\ \hline 201 & Accounts Payable \\ \hline 205 & Rent Payable \\ \hline 210 & Salaries Payable \\ \hline 215 & Utilities Payable \\ \hline 220 & Interest Payable \\ \hline 225 & Dividends Payable \\ \hline 235 & Unearned Revenue \\ \hline 250 & Notes Payable \\ \hline 255 & Mortgages Payable \\ \hline 260 & Premium on Bonds Payable \\ \hline 301 & Common Stock \\ \hline 315 & Retained Earnings \\ \hline \hline 220 & nividonds \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline 250 & Notes Payable \\ \hline 255 & Mortgages Payable \\ \hline 260 & Premium on Bonds Payable \\ \hline 301 & Common Stock \\ \hline 315 & Retained Earnings \\ \hline 320 & Dividends \\ \hline 325 & Income Summary \\ \hline 410 & Service Revenue \\ \hline 420 & Dividend Revenue \\ \hline 430 & Interest Revenue \\ \hline 505 & Advertising Expense \\ \hline 510 & Delivery Expense \\ \hline 515 & Depreciation Expense \\ \hline 520 & Insurance Expense \\ \hline 525 & Interest Expense \\ \hline 535 & Repairs and Maintenance \\ \hline 540 & Expense \\ \hline 545 & Rent Expense \\ \hline 550 & Salaries Expense \\ \hline 555 & Supplies Expense \\ \hline \end{tabular}
