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Reyes Company, a service company, uses the following chart of accounts: 100. Cash 200. Accounts payable 400. Service revenue 120. Accounts receivable 210. Salaries payable
Reyes Company, a service company, uses the following chart of accounts: 100. Cash 200. Accounts payable 400. Service revenue 120. Accounts receivable 210. Salaries payable 610. Salaries expense 125. Allowance for doubtful accounts 230. Unearned revenue 620. Rent expense 140. Prepaid expenses 250. Notes payable 640. Utilities expense 150. Computer equipment 300. Common stock 680. Depreciation expense 155. Accumulated depreciation 690. Interest expense Using account numbers, identify the accounts used in the following transactions. Only enter account numbers for entries that would be made in July, If no entry is needed, enter in both fields. For transactions with more than one debit or credit, enter the accounts in numeric order (lowest to highest). Enter O in fields with no account. DR CR Date Transaction Paid employees for salaries earned and recorded 7/5 in June Billed a customer for services performed in July. 7/6 Net 30 terms 7/8 Issued stock (at par) for cash 7/14 Hired a new salesperson 7/18 Received cash from a customer to pay off their account balance 7/20 Paid a vendor bill recorded in May 7/24 7/26 Signed a new lease agreement. No advance payments required Received cash from a customer as a deposit for work to be performed in September Purchased a new computer (10% down, 90% financed with debt) 7/27 Made a payment on a note payable to the bank. 7/29 Some of the payment was for principal, some of it was for July interest. Made a payment on a note payable to the bank. 7/29 Some of the payment was for principal, some of it was for July interest. 7/29 Paid August rent 7/31 Recorded July salaries expense to be paid 8/5 7/31 Recorded depreciation expense for July 8/5 Received an invoice for July utilities expense
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