201D, He account balances of Schilling Equipment Repair were as follows. Unnouoe
ID: 2400017 • Letter: 2
Question
201D, He account balances of Schilling Equipment Repair were as follows. Unnouoenibe No. 101 Cash No. Accumulated Depreciation- Equipment 2,440 154 4,240 201 Accounts Payable 1,800 209 Unearned Service Revenue $ 1,930 112 Accounts 126 Supplies 153 Equipment 2,620 1,210 734 9,616 3,950 $20,060 Receivable Salaries and Wages Payable 212 311 Common Stock 320 Retained Earnings 11,580 $20,060 During November, the following summary transactions were completed. Nov. 8 Paid $1,730 for salaries due employees, of which $734 is for October salaries. 10 Received $3,370 cash from customers on account 12 Received $3,050 cash for services performed in November. 15 Purchased equipment on account $1,970. 17 Purchased supplies on account $720. 20 Paid creditors on account $2,700. 22 Paid November rent $450. 25 Paid salaries $1,730. 27 Performed services on account and billed customers $1,900 for these services 29 Received $600 from customers for future service.Explanation / Answer
Journal Entries
Date
explanation
Debit
credit
8-Nov
salaries expense
996
salary payable
734
cash
1730
10-Nov
cash
3370
accounts receivables
3370
12-Nov
cash
3050
service revenue
3050
15-Nov
equipment
1970
accounts payable
1970
17-Nov
supplies
720
accounts payable
720
20-Nov
accounts payable
2720
cash
2720
22-Nov
rent expense
450
cash
450
25-Nov
salaries expense
1730
cash
1730
27-Nov
accounts receivables
1900
service revenue
1900
30-Nov
cash
600
unearned revenue
600
Journal Entries
Date
explanation
Debit
credit
8-Nov
salaries expense
996
salary payable
734
cash
1730
10-Nov
cash
3370
accounts receivables
3370
12-Nov
cash
3050
service revenue
3050
15-Nov
equipment
1970
accounts payable
1970
17-Nov
supplies
720
accounts payable
720
20-Nov
accounts payable
2720
cash
2720
22-Nov
rent expense
450
cash
450
25-Nov
salaries expense
1730
cash
1730
27-Nov
accounts receivables
1900
service revenue
1900
30-Nov
cash
600
unearned revenue
600
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