Assignment Gradebook ORION Downloadable eTextbook ice ment Exercise 3-18 (Part L

Question

Assignment Gradebook ORION Downloadable eTextbook ice ment Exercise 3-18 (Part Level Submission) Blue Spruce Corp, provides security services. Selected transactions for Blue Spruce Corp. are presented below. Oct. 1 1ssued common stock in exchange for $80,500 cash from investors. 2 Hired part-time security consultant. Salary will be $2,400 per month. First day of work will be October 15. 4 Paid 1 month of rent for building for $2,400 7 Purchased equipment for $22,000, paying $4,900 cash and the balance on account. 8 Paid $600 for advertising. 10 Recelved bill for equipment repair cost of $480. 12 Provided security services for event for $3,900 on account. 16 Purchased supplies for $500 on account. 21 Paid balance due from October 7 purchase of equipment 24 Received and paid utility bill for $181. 27 Received payment from customer for October 12 services performed. dv 31 Paid employee salaries and wages of $6,200. Dournalize the transations. (If no entry is required, select "No entry" for the account titles and enter 0 for the amou indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Wiley.&.Sans.Inc All Rights Reserved. A Division of 2shn.Wilex.& SonsI

Explanation / Answer

Journal entry :

Date account and explanation debit credit Oct 1 Cash 80500 Common Stock 80500 (To record common stock) Oct 2 No entry Oct 4 Rent expense 2400 Cash 2400 (To record rent paid) Oct 7 Equipment 22000 Cash 4900 Account payable 17100 (To record purchase equipment) Oct 8 Advertising expense 600 Cash 600 (To record advertising expense) Oct 10 Repair expense 480 Repairs payable 480 (To record accured expense) Oct 12 Account receivable 3900 Service revenue 3900 (To record service revenue) Oct 16 Supplies 500 Account payable 500 (To record purchase supplies) Oct 21 Account payable 17100 Cash 17100 (To record amount paid) Oct 24 Utilities expense 181 Cash 181 (To record utilities paid) Oct 27 Cash 3900 Account receivable 3900 (To record receive payment) Oct 31 Salary and wages expense 6200 Cash 6200 (To record salary and wages paid)

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