Problem 2-2A Emily Valley is a licensed dentist. During the first month of the o
ID: 2332544 • Letter: P
Question
Problem 2-2A Emily Valley is a licensed dentist. During the first month of the operation of her following events and transactions occurred. business, the April 1 Invested $20,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $700 per week payable monthly 3 Purchased dental supplies on account from Dazzle Company $4,000 10 Performed dental services and billed insurance companies $5,100. 11 Received $1,000 cash advance from Leah Mataruka for an implant 20 Received $2,100 cash for services performed from Michael Santas 30 Paid secretary-receptionist for the month $2,800. 30 Paid $2,400 to Dazzle for accounts payable due. Don't show me this message again for the assignment Journalize the transactions. (Credit account titles are automatically indented when nt is entered. Do not indent manually, Record journal entries in the ord nted in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Owner's investment of cash in business) Hired a secretary-receptionist) (Paid monthly office rent) (Purchased supplies on account from Dazzle Company)Explanation / Answer
Journal Entries
Date
Account Title and Explanation
Debit
Credit
1-Apr
Cash
$ 20,000.00
Emily valley-Capital
$ 20,000.00
(Owner's Investment of cash in business)
1-Apr
No entry
(Hired a secretary-Receptionist)
2-Apr
Prepaid Rent
$ 1,100.00
cash
$ 1,100.00
(Paid monthly office rent)
3-Apr
Office Supplies
$ 4,000.00
Accounts Payable
$ 4,000.00
(Purchase supplies on Account from Dazzle company)
10-Apr
Accounts Receivables
$ 5,100.00
Service revenue
$ 5,100.00
(Billed Client for services performed)
11-Apr
Cash
$ 1,000.00
Unearned Revenue
$ 1,000.00
(Received cash for Future service)
20-Apr
Cash
$ 2,100.00
Service Revenue
$ 2,100.00
(Received cash for Service Performed)
30-Apr
Salary Expense
$ 2,800.00
Cash
$ 2,800.00
(Paid Monthly Salary)
30-Apr
Accounts Payable
$ 2,400.00
Cash
$ 2,400.00
(Paid Dazzle company on account)
Adjustment entry
Date
Account Title and Explanation
Debit
Credit
30-Apr
Rent Expense
$ 1,100.00
Prepaid Rent
$ 1,100.00
(One month’s due and adjusted with advance rent)
Explanation
Date
Account Title and Explanation
Debit
Credit
1-Apr
Cash
$ 20,000.00
Emily valley-Capital
$ 20,000.00
(Owner's Investment of cash in business)
1-Apr
No entry
(Hired a secretary-Receptionist)
2-Apr
Prepaid Rent
$ 1,100.00
cash
$ 1,100.00
(Paid monthly office rent)
3-Apr
Office Supplies
$ 4,000.00
Accounts Payable
$ 4,000.00
(Purchase supplies on Account from Dazzle company)
10-Apr
Accounts Receivables
$ 5,100.00
Service revenue
$ 5,100.00
(Billed Client for services performed)
11-Apr
Cash
$ 1,000.00
Unearned Revenue
$ 1,000.00
(Received cash for Future service)
20-Apr
Cash
$ 2,100.00
Service Revenue
$ 2,100.00
(Received cash for Service Performed)
30-Apr
Salary Expense
$ 2,800.00
Cash
$ 2,800.00
(Paid Monthly Salary)
30-Apr
Accounts Payable
$ 2,400.00
Cash
$ 2,400.00
(Paid Dazzle company on account)
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