Purt I: Record the following transactions for Classic Canine Cuts for the month

Question

Purt I: Record the following transactions for Classic Canine Cuts for the month of December in the General Journal. Transactionate Description 12/1 Issued 100,000 shares of common stock for $100,000 122 Aretail space is rented. Paid for one year of rent in advance 12/4 Purchased equipment for the business totaling $36,000. 125 Purchased $1,500 of supplics on account. 12/7 Provided services to customers for cash totaling $5,000 12.9 12/12 1215 12/17 Paid $1,000 for the supplies that were purchased on December s 1220 Provided S2.500 of services to customers on account. 12125 Paid a cash dividend of $800 to the shareholders. totaling $24,000, (rent is $2.000 per month) Purchased an ad in the local newspaper to run during December Custormers purchasod $1,1H00 af gift certificates for services to be Paid employee salaries fer the first half of December totaling for $400, provided in the future (pro-paid for future services S1.200. '10 12 12:30 Reccived $1,SN0 on account for services provided on 12/20. Part 2: Post all of the transactions for the month of December from the General Joumal to the General Ledger Part 3: Complete a Trial Balance as of December 31, 2018. Page 2

Explanation / Answer

01-Dec Cash 100000          Common stock 100000 02-Dec Prepaid rent 24000             Cash 24000 04-Dec Equipment 36000             Cash 36000 05-Dec Supplies 1500          Accounts payable 1500 07-Dec Cash 5000          Service revenue 5000 09-Dec Advertising expense 400           Cash 400 12-Dec Cash 1000             Unearned revenue 1000 15-Dec Salaries expense 1200            Cash 1200 17-Dec Accounts payable 1000           Cash 1000 20-Dec Accounts receivable 2500             Service revenue 2500 25-Dec Dividend 800             Cash 800 30-Dec Cash 1500         Accounts receivable 1500 Trial balance Debit Credit Cash 44100 Accounts receivable 1000 Prepaid rent 24000 Supplies 1500 Equipment 36000 Accounts payable 500 Unearned revenue 1000 Common stock 100000 Service revenue 7500 Dividend 800 Salaries expense 1200 Advertising expense 400 Total 109000 109000

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