Thank you so mich for your help with the Journal Entries.
Here are 2 more:
1. From Red Deer Promotions, $900 plus $45 GST paid for web site redesigns. Purchase invoice total $945. Terms: cash on receipt. Invoice paid in full with cheque # 493.
and
2 .
BINH'S BINS - GENERAL JOURNAL 53 SESSION DATE - JUNE 21, 2021 To: Binh's Bins 672 Alleyway Drive Red Deer, AB T4R 214 Sylvan Motors 179 Towing Blvd., Red Deer, AB T4P 152 Date: June 15, 2021 Tel: 403-775-6116 No: SM-7941 Description of item Truck Repairs 1,900.00 GST #65103 4274 RT0001 Terms: net 30 days Signature Subtotal GST Total 1,900.00 95.00 $1,995.00 Binh Than Some of these jobs Vaso Burns revenue comes from homes and businesses undergoing renovations of these jobs are arranged by the owners, and some by their contractors. some of his customers have set up accounts with Binh's Bins, and he has accounts his regular vendors and suppliers onvert his accounting records to Sade 50 in une he has used the following with his regular Chart of Accounts Trial Balance Accounting Procedures CHART OF POSTABLE ACCOUNTS ASSETS 1080 Chequing Account 1200 AR- Ontime Contracting 1220 A/R - Piper Creek Mall 1240 A/R - Redbird Brothers 1320 Prepaid Insurance 1340 Prepaid Rent 1360 Supplies 1520 Computers and Software 1540 Tools 1560 Dumpsters BINH'S BINS 1580 Trucks 3150 Binh's Bins, Drawings 3600 Net Income LIABILITIES 2100 A/P - Badlands Hardware REVENUE 2120 A/P - Hoodoos Containers 4100 Revenue from Dumpster 2180 A/P - Red Deer Promotions Rentals 2650 GST Charged on Services 4150 Revenue from 2670 GST Paid on Purchases Subcontracting 4200 Interest Revenue EQUITY 3100 Binh's Bins, Capital EXPENSE 5020 Advertising & Promotion 5040 Bark Charges 5060 Insurance Expense 5080 Interest Expense 5100 Maintenance & Repairs 5110 Supplives Used 5120 Rental Expenses 5140 Phone/Internet Expenses 5150 Truck Expenses 5160 Wages Expenses NOTES: The Chart of Accounts includes only postable accounts and the Net Income or Current Earnings account. Sage 50 uses the Net Income account for the Income Statement to calculate the difference between revenue and expenses before dosing the books. TRIAL BALANCE BINH'S BINS Debits Credits June 1, 2021 1080 Chequing Account 1200 A/R - Ontime Contracting $ 64 360 2 730 5880 L othar