Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Here are selected transactions of the

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Here are selected transactions of the Castillo Shipping Service. DATE March 1, 20X1 March 2, 20X1 March 3, 20X1 March 4, 20X1 March 5, 20xX1 March 6, 20X1 March 7, 20X1 March 8, 20X1 March 9, 20x1 March 10, 20X1 TRANSACTIONS The owner made an additional investment of $50,300 in cash. Purchased supplies for $4,950 on credit. Issued a check for $4,800 to pay the monthly rent. Provided services for $7,860 on credit. Performed services for $18,950 in cash. Issued a check for $3,150 to pay a creditor on account. Purchased new equipment for $10,100 and paid for it immediately by check. Collected $5,560 from credit customers. Sent a check for $1,405 to the utility company to pay the monthly bill. Gave a cash refund of $955 to a customer because of a lost package (the customer previously paid in cash).
image text in transcribed
image text in transcribed
Required information Use the following information for the Exercises below. [The following information opplies to the questions displayed below] Here are selected transactions of the Castillo Shipping Service. DATE TRANSACTIONS March 1, 20x1 The owner made an additional investnent of $50,300 in cash. March 2, 20x1 Purchased supplies for $4,956 on credit. March 3, 200x 1 issued a check for $4,800 to pay the monthly rent. March 4, 20xi Provided services for $7,860 on credit. March 5,201 Perforned services for $18,950 in cash. March 6,201 Issued a check for $3,150 to pay a creditor on account. March 7, 20x1 Purchased new equipsent for $10,100 and paid for it imediately by check. March 8, 20x1 collected $5,560 from credit custoners. March 9, 20xi sent a check for $1,405 to the utility conpany to pay the monthly bill. March 10, 20xi Gave a kash refund of 5955 to a customer because of a lost package (the customer previously paid in cash). Journal entry worksheet The owner made an additional investment of $50,300 in cash. Note: Enter debits before credits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions