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this ? June 1 The owner invested $125,000 cash into the business to start a new restaurant. The owner also invested in addition to the
this ?
June 1 The owner invested $125,000 cash into the business to start a new restaurant. The owner also invested in addition to the $125,000 cash some kitchen equipment worth $30,000 and furniture worth $26,000. The business purchased store supplies for cash for $1,300 which will be used by the business for around 3 months. June 2 June 3 The business paid $850 for rent for the month of June for the restaurant. The business will pay rent every month until the owner can find a building to purchase or find a building to rent long term. June 4 The business purchased more furniture for $30,000. The business paid a $9,500 cash deposit and paid for the remainder by going to the bank and getting a loan for the rest of the amount needed to buy the furniture. The business purchased food for $9,100 on credit. (Assume the food will all be sold by the end of June) and also drinks for $3,900 for cash. (Assume all of the drinks will also be sold by the end of June). June 8 June 15 Sales of food and drink for the first half of the month were $7,400 for credit and $6,200 for cash. June 19 June 24 The business paid $1,950 of the amount owing for the food purchased on the gth of June. The business received $1,100 cash from customers who owe money for sales of food on the 15th of June. Sales of food and drink for the second half of the month were $8,200 in cash and $5,180 on credit Paid wages expense of $5,200 cash for the month of June. June 30 June 30 REQUIRED: Record the events above in the General Journal. (You can assume the end of the period is 30th of June). GENERAL JOURNAL Date Accounts Debit Credit GENERAL JOURNAL Date Accounts Debit Credit Credit Step by Step Solution
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