The Pet Sitters, Inc. entered into the following transactions during the month o

Question

The Pet Sitters, Inc. entered into the following transactions during the month of January.

Purchased supplies for $5,400 cash.

For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

A.

Purchased supplies for $5,400 cash.

B. Paid $4,480 for salaries and wages for the month of January. C. Paid $430 in advance for February rent. D. Provided $13,400 in services on account. E. Paid $800 on accounts payable. F. Received $180 from customers as deposits for future pet sitting services. G. Received a bill for $430 from the plumber who repaired a broken pipe in the restrooms, but will not pay the bill until February. H. Purchased equipment for cash of $690.

Explanation / Answer

In the books of Pet Sitters for the month of January S.No Particulars Folio Debit Credit 1) Supplies Dr 5400 To Cash Cr 5400 2) Salaries & Wages Dr 4480 To Cash Cr 4480 3) Prepaid Rent Dr 430 To Accounts Payble Cr 430 Accounts Payble Dr 430 To Cash Cr 430 4) Accounts receivable Dr 13400 To Services revenue Cr 13400 5) Accounts payble Dr 800 To Cash Cr 800 6) Cash A/c Dr 180 To Customer Advances Cr 180 7) Repair & Maintenance Dr 430 To Accounts Payble Cr 430 8) Equipment Dr 690 To cash A/c Cr 690

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