Selected transactions for D. Reyes, an interior decorator, in here first month o

Question

Selected transactions for D. Reyes, an interior decorator, in here first month of business, are as follows.

Jan.
2
Invested $10,000 cash in business.
3
Purchased used car for $4,000 cash for use in business.
9
Purchased supplies on account for $500.
11
Billed customers $1,800 for services performed.
16
Paid $200 cash for advertising.
20
Received $700 cash from customers billed on January 11.
23
Paid creditor $300 cash on balance owed.
28
Withdrew $1,000 cash for personal use of owner.


Instructions

Journalize the transactions:

Explanation / Answer

Date Particulars Debit Credit 2-Jan Cash 10,000.00 Capital Stock 10,000.00 3-Jan Car 4,000.00 Cash 4,000.00 9-Jan Supplies 500.00 Accounts Payable 500.00 11-Jan Accounts Receivable 1,800.00 Service Revenue 1,800.00 16-Jan Advertising Expenses 200.00 Cash 200.00 20-Jan Cash 1,800.00 Accounts Receivable 1,800.00 23-Jan Accounts Payable 300.00 Cash 300.00 28-Jan Drawings 1,000.00 Cash 1,000.00

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