Journalizing Transactions Required: Prepare a journal entry for each of the abov
ID: 2773521 • Letter: J
Question
Journalizing Transactions
Required:
Prepare a journal entry for each of the above transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.
Mar. 2
(Record revenue)
3
(Record purchase of surfboards)
6
(Record wages)
9
(Record rent)
12
(Record purchase of truck)
13
(Record collection of customer account)
16
(Record payment of account owed)
23
(Record borrowing of cash)
27
(Record payment of telephone bill)
30
(Record payment for advertising)
HidePrepare a journal entry for each of the above transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.
Mar. 2
(Record revenue)
3
(Record purchase of surfboards)
6
(Record wages)
9
(Record rent)
12
(Record purchase of truck)
13
(Record collection of customer account)
16
(Record payment of account owed)
23
(Record borrowing of cash)
27
(Record payment of telephone bill)
30
(Record payment for advertising)
Explanation / Answer
Particulars Dr Amt Cr Amt Cash A/C Dr 51,500.00 To Rent revenue 51,500.00 Purchases A.C Dr 1,800.00 To Accounts Payable 1,800.00 Wages A/C Dr 9,200.00 To Cash A/C 9,200.00 Rent A/C Dr 1,000.00 To Cash A/c 1,000.00 Tuck A/c Dr 40,800.00 To cash A/C 1,000.00 To Loan A/C 39,800.00 Cash A/C Dr 1,050.00 To Accounts Receivable 1,050.00 Account Payable Dr 950.00 To Cash A/C 950.00 Cash A/C Dr 10,000.00 To 8% Notes Payable 10,000.00 Telephone Expenses Dr 185.00 To Cash A/C 185.00 Advertising Expense Dr 1,550.00 To Cash A/C 1,550.00
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