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Soap Suds, Inc. (SSI), is a company that provides automated car wash bays and interior car detailing for customers. SSI has been operating for
Soap Suds, Inc. (SSI), is a company that provides automated car wash bays and interior car detailing for customers. SSI has been operating for five years; its revenues have increased each year. You have been hired to help the company analyze the following transactions for the first two weeks of June 2022: Billed various customers $8,600 for services provided. Paid $1,550 for supplies that were purchased and recorded on account last month Purchased a building for $120,000. Paid $40,000 in cash and signed a note for the balance. The value of the building was appraised at $150,000. June 5 June 8 June 8. June 10 Received $3,500 on account from various customers billed on June 5. June 11 June 12 June 14 Placed an online advertisement in the local paper for $500 cash. Received the June telephone bill for $350 to be paid next month. Received $3,500 from ABC Company for services to be rendered next month. June 15 Paid employee wages of $2,400, which were incurred in June. Required: For each of the above activities, indicate the appropriate journal entry that the company should record in June, or explain why the activity would not be considered a transaction in June. Date June 5 Account Names Debit Credit D'E
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