Kimmel, Accounting, Ge Helo 1 5 Gradebook ORION Downloadable eTextbook ent Probl

Question

Kimmel, Accounting, Ge Helo 1 5 Gradebook ORION Downloadable eTextbook ent Problem 3-5A (Part Level Submission) Ayala Architects incorporated as licensed architects on Agil 1, 2017. During the first month of the operation of the tbusiness, these events and transactions occurresd pr. 1 Stockholders invested $18,270 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $381 per week, payable monthly. 2 Paid office rent for the month $914 3 Purchased architectural supplies on account from Burmingham Company $1,320 10 Completed blueprints on a carport and billed dient $1,929 for services 11 Recelved $711 cash advance from M. Jason to design a new home 20 Received $2,842 cash for services completed and delivered to S.Melvin. 30 Paid secretary-receptionist for the morth $1,524 30 Paid $305 to Burmingham Company for accounts payable due tefr the amunts cesitonticay indent manually. Record journal entries in the order presented o the problem Date Account Ttles and 1xplianation

Explanation / Answer

The given transactions will be journalized as follows:

Date Account Titles and Explanation Debit Credit Apr. 1 Cash 18270       Common Stock 18270 No journal entry to be made for hiring the secretary-receptionist. Apr. 2 Rent Expense 914       Cash 914 Apr. 3 Supplies 1320       Accounts Payable 1320 Apr. 10 Accounts Receivable 1929       Service Revenue 1929 Apr. 11 Cash 711       Unearned Revenue 711 Apr. 20 Cash 2842       Service Revenue 2842 Apr. 30 Salary/Wages Expense 1524       Cash 1524 Apr. 30 Accounts Payable 305       Cash 305

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