Service Companies

You set up a new asset account called Office Furniture first. You use $185$ as the acc number. TIP: In the Save account under field, select Fixed Assets. $($This is the acc type.$)$ In the Tax form section field, select Furniture & Fixtures. $($This is the detail ty You also set up the new vendor:

Frank's Furniture

$2174$ Hardwood Street

Sacramento, CA $95822$

Terms: Net $30$

Martin expects the furniture to last four years.

Iartin also purchases two more computers and six more calculators since he's doing $1$ ring at his new location. The equipment, purchased from Paper Bag Depot, costs $ tal $($$$312$ for the six calculators and $$1,260$ for the two computers$).$ Martin expects $t$ uters to last three years and the calculators to last four years. Martin uses a new cred ake the purchase.

You set up the credit card general ledger account for the VISA credit card first. Yo Prime Visa Payable as the account name and $220$ as the account number. TIP: In Save account under field, select Credit Cards. $($This is the account type.$)$ In the Ta form section field, select Credit Card. $($This is the detail type.$)$

You enter the credit card charge using $\frac{1}{2}$ as the date. You select Computer & Of Equipment $($#$180)$ as the distribution account for the calculators and the compute TIP: Use the Expense form to record credit card charges. Paper Bag Depot is the payee. Select the new credit card account as the Payment account. Select VISA as payment method and leave the Ref no$.$ blank.

TIP: Ignore the sidebar that appears on the right$-$hand side of the screen. You ar paying the outstanding bill from Paper Bag Depot as part of this transaction.

know you will have to pay the credit card company eventually so you go ahead a em up as a vendor.

Prime Visa Company

$55$ Wall Street

New York, NY $10005$

Terms: Net $15$

pay January's rent $($$$850)$ with check #$1102.$ The landlord is Pro Spaces.

rtin purchases some graphing paper, lined paper, markers, and pencils from Math $0\mathrm{.}82,$ on account $($Vendor Invoice #$3659).$ He is tracking all tutoring supplies as a count #$125.$ At the end of the month, he'll determine the value of the supplies on $\text{'}$ll make any necessary adjustments. The terms are Net $15.$

rtin hands you the receipt for the $$35$ of gas he purchased at Cardinal Gas & Sn VISA credit card and you enter the credit card expense in QBO.

You select $+$ Add new in the Payee dropdown and add the new vendor without a iny additional vendor details.

take a look at the Unpaid Bills report in the What You Owe section of Reports. e of the bills were due last month! You know that can't be true so you look thro aid bill file. You correct the terms on each of the bills as follows:

Sathy's Coffee $($$$32)-$Net $15$

Math Shack $($$$255)-$Net $15$

aper Bag Depot $($$$94)-$Net $30$

: Click on the appropriate bills in the Unpaid Bills report, enter the terms, and cli

close. You don't need to update reference numbers or change account distributio