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Robert Khan has started a plumbing business under the name of The Village Plumber. Analyze and record these transactions for the month of June
Robert Khan has started a plumbing business under the name of The Village Plumber. Analyze and record these transactions for the month of June in the General Journal. Where indicated, use the account names provided. 20-Jun. 1 Robert Khan invested the following into plumbing business: cash, $10,500, and a used truck, $6,500. 2. Rented part of a building from Heswell Properties and paid the rent for June, $1,700. Cheque #101. 2 Bought tools and plumbing equipment from Gunn's Plumbing Supply, $2,200. Cheque #102. (Tools & Equipment) 3 Bought supplies for the office from Chang Stationery Co., $135.90. Cheque # 103. (Office Supplies Expense) 3 Completed plumbing repair work for Country Hardware on account, $267. This is Work Order #1, payment due in 10 days. (Repair Service Revenue) 5 Bought laptop computer for the office from Toledo Electronics, $250. Cheque #104. (Office Equipment) 7 Installed a new water heater and new pipes for Gerald Wallace; Work Order #2. Received $1,020 cash as full payment for the work performed. 10 Newspaper advertising is to appear in the Daily Journal on June 15. Purchase Invoice #327 for $125 is due on June 20. 13 Collected the amount owing from Country Hardware, $267. 15 Completed repairs for Horton Drugs, $310, to be collected June 25; Work Order #3. 19 Received Purchase Invoice #752 from Acme Auto Service for repairs and gasoline for the truck, $283. Payment due in 10 days. (Truck Expense) 20 Paid Daily Journal $125 on account. Cheque #105. 21 Completed plumbing repairs for Anne Brill; received $96 in full payment of Work Order #4. 25 Collected the amount owing from Horton Drugs for repairs completed on June 15, $310. 29 Paid the telephone bill, $123. Cheque #106. 29 Paid the amount owing to Acme Auto Service, $283. Cheque #107.
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