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The following transactions occurred during June: June 1 Purchased two new maintenance carts on account at $750 each. Payment is due in 30 days June
The following transactions occurred during June:
June 1 | Purchased two new maintenance carts on account at $750 each. Payment is due in 30 days |
June 8 | Accepted $500 of advance payments from customers for services to be provided next month |
June 15 | Received the utility bill for $300. Payment is due in 30 days |
June 20 | Billed customers $1,500 services provided. Payment is due in 30 days. |
June 30 | Received $500 from customers who were billed earlier |
Refer to Hesson Properties. What journal entry is required to record the purchase of the carts?
a. | Equipment 1,500 Accounts Payable 1,500 | |
b. | Accounts Payable 1,500 Equipment 1,500 | |
c. | Equipment 1,500 Cash 1,500 | |
d. | Cash 1,500 Equipment 1,500 |
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