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The following transactions occurred for Wong Technology Solutions: (Click the icon to view the transactions.) Journalize the transactions of Wong Technology Solutions. Include an explanation
The following transactions occurred for Wong Technology Solutions: (Click the icon to view the transactions.) Journalize the transactions of Wong Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Advertising: Land: Building; Accounts Payable; Unearned Revenue; Wong, Capital; Service Revenue; Rent Expense; and Salaries Expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 1: The business received cash of $120,000 and gave capital to Zoe Wong. Date May 1 Accounts and Explanation Debit Credit More info May 1 The business received cash of $120,000 and gave capital to Zoe Wong. May 2 Purchased office supplies on account, $350. May 4 May 2: Purchased office supplies on account, $350. Paid $51,000 cash for building and land. The building had a fair market value of $41,000. May 6 Performed services for customers and received cash, $3,400. Date Accounts and Explanation Debit Credit May 9 May 2 May 17 May 19 May 20 May 21 May 23 May 4: Paid $51,000 cash for building and land. The building had a fair market value of $41,000. Prepare a compound entry. Date Accounts and Explanation Debit Credit May 31 Paid $250 on accounts payable. Performed services for customers on account, $2,900. Paid rent expense for the month, $1,400. Received $2,100 from customers for services to be performed next month. Paid $600 for advertising in next month's IT Technology magazine. Received $2,300 cash on account from a customer. Incurred and paid salaries, $900. May 4 Print Done The following transactions occurred for Wong Technology Solutions: (Click the icon to view the transactions.) Journalize the transactions of Wong Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Advertising; Land; Building; Accounts Payable; Unearned Revenue: Wong, Capital; Service Revenue; Rent Expense; and Salaries Expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 6: Performed services for customers and received cash, $3,400. Date May 6 Accounts and Explanation Debit Credit More info May 1 The business received cash of $120,000 and gave capital to Zoe Wong. May 2 Purchased office supplies on account, $350. May 4 May 9: Paid $250 on accounts payable. Date May 9 Paid $51,000 cash for building and land. The building had a fair market value of $41,000. May 6 Accounts and Explanation Performed services for customers and received cash, $3,400. Debit Credit May 9 Paid $250 on accounts payable. May 17 May 19 May 20 May 21 May 17: Performed services for customers on account, $2,900. Date May 17 Accounts and Explanation May 23 May 31 Performed services for customers on account, $2,900. Paid rent expense for the month, $1,400. Received $2,100 from customers for services to be performed next month. Paid $600 for advertising in next month's IT Technology magazine. Received $2,300 cash on account from a customer. Incurred and paid salaries, $900. Debit Credit Print Done - X The following transactions occurred for Wong Technology Solutions: (Click the icon to view the transactions.) Journalize the transactions of Wong Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Advertising; Land; Building; Accounts Payable; Unearned Revenue; Wong, Capital; Service Revenue; Rent Expense; and Salaries Expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 19: Paid rent expense for the month, $1,400. Date May 19 Accounts and Explanation Debit Credit May 20: Received $2,100 from customers for services to be performed next month. Date May 20 Accounts and Explanation May 21: Paid $600 for advertising in next month's IT Technology magazine. Date Accounts and Explanation May 21 More info May 1 The business received cash of $120,000 and gave capital to Zoe Wong. May 2 Purchased office supplies on account, $350. May 4 Paid $51,000 cash for building and land. The building had a fair market value of $41,000. May 6 Debit Credit May 9 May 17 May 19 May 20 May 21 May 23 May 31 Performed services for customers and received cash, $3,400. Paid $250 on accounts payable. Performed services for customers on account, $2,900. Paid rent expense for the month, $1,400. Received $2,100 from customers for services to be performed next month. Paid $600 for advertising in next month's IT Technology magazine. Received $2,300 cash on account from a customer. Incurred and paid salaries, $900. Debit Credit Print Done May 23: Received $2,300 cash on account from a customer. Date May 23 Accounts and Explanation May 31: Incurred and paid salaries, $900. Date May 31 Debit Credit Accounts and Explanation Debit Credit
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