Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts

Question

Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Draw Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense 2-7 Transactions Journalize the following selected transactions for October 2019 in a two-column journ Journal entry explanations may be omitted. al Oct. 1. Paid rent for the month, $3,600. 3. Paid advertising expense, $1,200. 5. Paid cash for supplies, $750. 6. Purchased office equipment on account, $8,000. 10. Received cash from customers on account, $14,800. 15. Paid creditors on account, $7,110. 27. Paid cash for miscellaneous expenses, $400. 30. Paid telephone bill (utility expense) for the month, $250. 31. Fees earned and billed to customers for the month, $33,100. 31. Paid electricity bill (utility expense) for the month, $1,050 31. Withdrew cash for personal use, $2,500.

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Debit Credit Oct 01 Rent expense Dr                         3,600.00 To cash                         3,600.00 Oct 03 Advertising expense Dr                         1,200.00 To cash                         1,200.00 Oct 05 Supplies Dr                             750.00 To cash                             750.00 Oct 06 Office Equipment Dr                         8,000.00 To Accounts payable                         8,000.00 Oct 10 Cash DR                       14,800.00 to Accounts receivable                       14,800.00 Oct 15 Accounts payable DR                         7,110.00 To cash                         7,110.00 Oct 27 Miscellaneous Expense DR                             400.00 To cash                             400.00 Oct 30 Utility Expense Dr                             250.00 To cash                             250.00 Oct 31 Accounts receivable DR                       33,100.00 To fees earned                       33,100.00 Oct 31 Utility Expense Dr                         1,050.00 To cash                         1,050.00 Oct 31 Jason Payne Drawing Dr                         2,500.00 To cash                         2,500.00

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