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The following journal entries were prepared for Oxford Corporation for its first month of operation, January 2019 Jan 200 Debit Credit 1 Cash 10,000 Share
The following journal entries were prepared for Oxford Corporation for its first month of operation, January 2019 Jan 200 Debit Credit 1 Cash 10,000 Share Capital 10,000 To record the shares issued. 5 Rent Expense Cash 200 To record the payment of rent for the month, 9 Unused Supplies 4,000 Cash 4,000 To record the purchase of supplies. 11 Cash 1,300 Service Revenue 1,300 To record service revenue earned. 28 Truck Operating Expense Accounts Payable 450 To record truck repairs. 30 Salaries Expense 1,800 Cash 1.800 To record payment of salaries for the month, 31 Accounts Receivable 1,600 Service Revenue 1,600 To record service revenue earned during the month, 31 Supplies Expense 200 Unused Supplies 200 To record supplies used during the month. 31 Dividends SO Cash SO 450 Prepare a trial balance at January 31, 2019. Make sure total debits equal total credits. [1 mark per each item correct in the trial balance.)
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