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The following transactions occurred for Laughton Engineering: (Click the Icon to view the transactions.) Journalize the transactions of Laughton Engineering. Include an explanation with each
The following transactions occurred for Laughton Engineering: (Click the Icon to view the transactions.) Journalize the transactions of Laughton Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies: Equipment: Accounts Payable: Notes Payable; Laughton, Capital; Laughton, Withdrawals; Service Revenue; Utilities Expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) July 2: Received $9,000 contribution from Bill Laughton, owner, X More info Date Accounts and Explanation Jul. 2 2 Received $9,000 contribution from Bill Laughton, owner, in exchange for capital, 4 Paid utilities expense of $440. 5 Purchased equipment on account. $1,900. 10 Performed services for a client on account. $2,100. 12 Borrowed $6,900 cash, signing a notes payable. 19 The owner, Bill Laughton, withdrew $450 cash from the business 21 Purchased office supplies for $790 and paid cash. 27 Paid the liability from July 5. July 4: Paid utilities expense of $440. Date Accounts and Explanation Jul. 4 Print Done July 2: Received $9,000 contribution from Bill Laughton, owner, in exchange for capital. Date Accounts and Explanation Debit Credit Jul. 2 July 4: Paid utilities expense of $440. Date Accounts and Explanation Debit Credit Jul. 4 July 5: Purchased equipment on account, $1,900. Date Accounts and Explanation Debit Credit Jul. 5 July 10: Performed services for a client on account, $2,100. Date Accounts and Explanation Debit Credit Jul. 10 July 12: Borrowed $6,900 cash, signing a notes payable. Date Accounts and Explanation Debit Credit Jul. 12 July 19: The owner, Bill Laughton, withdrew $450 cash from the business. Date Accounts and Explanation Debit Credit Jul. 19 July 21: Purchased office supplies for $790 and paid cash. Date Accounts and Explanation Debit Credit Jul. 21 July 27: Paid the liability from July 5. Date Accounts and Explanation Debit Credit Jul. 27
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