explanations from any journal entries.) More Info haize each transaction. Omit e
ID: 2501816 • Letter: E
Question
explanations from any journal entries.) More Info haize each transaction. Omit explanations. (Record debits first, then credits Exclude ihations from any journal entries he ban Jul 1 Borrowed $215,000 from New Mexico Bank. The company president signed a note payable to the bank in the name of New Year Advertising, Inc 3 Paid $90,000 cash to purchase an office building 6 Provided services to customers on account, $14,100 9 Purchased $900 of office supplies on account 13 Provided services to cash customers, $9,900 15 Paid $10,000 of dividends to company stockholders 17 Received payment on account from credit customers, $10,000 18 Paid property tax expense on office building, $1.200 22 Paid employee salaries. $4,100 26 Paid cash to purchase supplies, $1.200 31 Paid $2.500 on account backspace 7 8 9 0.Explanation / Answer
Date Titlte debit credit 1 cash 215000 Note payable 215000 [being amount borrowed] 3 office building 90000 cash 90000 [being building purchased] 6 Accounts receivable 14100 service revenue 14100 [being services provided ] 9 supplies 900 Accounts payable 900 [being supplies purchased on account ] 13 cash 9900 service revenue 9900 [being services provided] 15 Dividend 10000 cash 10000 [being dividend paid] 17 cash 10000 Accounts receivable 10000 [being receivable collected ] 18 property tax 1200 cash 1200 [being tax paid] 22 salary 4100 cash 4100 [being salary paid] 26 supplies 1200 cash 1200 [supplies purchased 31 Accounts payable 2500 cash 2500 [being amount paid to suppliers]
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