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Some of the January transactions of Air Wolf are listed below. Jan. 3: Paid $1600 rent for the building for January Jan. 4: Placed advertising
Some of the January transactions of Air Wolf are listed below. Jan. 3: Paid $1600 rent for the building for January Jan. 4: Placed advertising in local newspaper for publication during January. The agreed cost of advertising of $520 and payable within 10 days. (Use Advertising Expense a/c). Jan. 15:Cash receipts from passengers for the first half of January amounted to $9470. (Use service revenue account). Jan. 16:Amy Wolf, the owner withdrew $3000 cash for personal use. Jan. 16:Paid Salaries to employee for first half of January, $5265. Jan. 29:Received a bill for fuel used from Western Oil Company, amounting to $1930, and payable by February 10. Jan. 31:Paid $1642 to Steven Aircraft for repaid and maintenance work during January. Required: Prepare Journal Entry and Posting to Ledger Account of above transactions
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