sare a trial bace using CLGL, use the year 2020 when recording transactions and
ID: 2610169 • Letter: S
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sare a trial bace using CLGL, use the year 2020 when recording transactions and preparing reports OBLEM 3-5A Following is the chart of accounts of Sanchez Realty Company: LO1,2, 3 Assets 111 Cash 113 Accounts Receivable 115 Supplies Revenue 411 Professional Fees Expenses 511 Salary Expense 512 Rent Expense 513 Advertising Expense 514 Utilities Expense CLG 17 Prepaid Insurance 124 Office Furniture Liabilities Accounts Payable 221 Owner's Equity 3 San 1 T. Sanchez, Capital 12 T. Sanchez, Drawing chez during April (the first month of business)!: 1 Sanchez deposited $20,000 in a bank account in the name of the business. 5 Sold realty services on account to R. Miller, $7,500, Inv. No. 100. 7 Paid a bill for advertising, $250, Ck. No. 1001. (Continued)Explanation / Answer
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Date General Journal Debit Credit Apr-01 Cash 20000 T. Sanchez, Capital 20000 (To record cash brought in) Apr-05 Accounts receivable 7500 Professional fees 7500 (To record fees earned on account) Apr-07 Advertising expense 250 Cash 250 (To record advertising expense paid) Apr-08 Supplies 420 Accounts payable 420 (To record supplies purchased on account) Apr-09 Cash 2530 Professional fees 2530 (To record fees earned) Apr-15 Utilities expense 280 Cash 280 (To record utilities bill paid) Apr-17 Office Furniture 1800 Cash 300 Accounts payable 1500 (To record furniture purchased) Apr-20 Prepaid insurance 1800 Cash 1800 (To record liability insurance bought) Apr-21 Rent expense 1000 Cash 1000 (To record rent paid for the month) Apr-25 Accounts payable 420 Cash 420 (To record payment on account) Apr-27 Cash 7500 Accounts receivable 7500 (To record collection on account) Apr-28 Utilities expense 150 Cash 150 (To record telephone bill paid) Apr-29 Salary expense 1030 Cash 1030 (To record salaries paid) Apr-30 T. Sanchez, Drawing 3000 Cash 3000 (To record cash withdrawn)Related Questions
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