The following events occur in August, 2018

August 5: Paid employee for period ending 7/31. August 8: Receive payments from customers towards accounts receivable in amount of $3,800. August 10: Paid July telephone bill. August 15: Purchase additional baking supplies in amount of $5,000 from vendor, on account. August 15: Accrue wages earned for employee from period of 1st through 15th of August (Wage calculations table provide August 15: Pay rent on bakery space. August 18: Receive payments from customers towards accounts receivable in amount of $3,000. August 20: Paid $8,500 toward baking supplies vendor payable. August 20: Pay employee for period ending 8/15. August 22: $300 in office supplies purchased. August 31: Received telephone bill for August in amount of $75. Payment is due on September 10. August 31: Accrue wages earned for employee for period of August 16th through August 31st (Wage calculations table pro August 31: August bakery sales total $20,000. $7,500 of this total is on accounts receivable.

Asset Accounts Liability Accounts Equity Accounts Acct # Acct # 201 Common Stock 202 Dividends 203 204 301 302 Cash Baking Supplies Prepaid Rent Prepaid Insurance Baking Equipment Office Supplies Accounts Receivable Accumulated Depreciation Merchandise Inventory Acct # 101 Notes Payable 102 Accounts Payable 103 Wages Payable 104 Interest Payable 105 106 107 108 109 Revenue Accounts Acct # Bakery Sales Merchandise Sales 401 402 This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you. Expense Accounts Acct # Baking Supplies Expense Rent Expense Insurance Expense Misc. Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Interest Expense Depreciation Expense Office Supplies Expense Cost of Goods Sold 501 502 503 504 505 506 507 508 509 510 511 512 Peyton Approved General Journal Entries Aug-18 Put entries in shaded cells Date Accounts Debit Debit Credit Total Wage calculation data: Rate 12 12 Month 31 Jul. 15 Aug. 31 Aug. 15 Sep. | 30 Sep. Hours 10 | 40 35 38 40 Pay 120 480 420 456 480 12 | 12 12