Transactions

OBJ. 2

• Simmons Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Michael Short, Capital; Michael Short, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.

Journalize the following selected transactions for October 20Y3 in a two-column journal. Journal entry explanations may be omitted.

Oct.	1.	Paid rent for the month, $4,800.
	3.	Paid advertising expense, $2,500.
	5.	Paid cash for supplies, $1,390.
	6.	Purchased office equipment on account, $10,670.
	10.	Received cash from customers on account, $19,730.
	15.	Paid creditors on account, $9,480.
	27.	Paid cash for miscellaneous expenses, $530.
	30.	Paid telephone bill (utility expense) for the month, $220.
	31.	Fees earned and billed to customers for the month, $38,620.
	31.	Paid electricity bill (utility expense) for the month, $1,540.
	31.	Withdrew cash for personal use, $6,700.