5) Create a journal entry and a T-Account entry for each of the following transa

ID: 2418883 • Letter: 5

Question

5) Create a journal entry and a T-Account entry for each of the following transactions:

a. $30,000 worth of supplies is purchased with cash.

b. Wages due to employees that had been previously recorded as a liability are now paid in cash in the amount of $50,000.

c. $5,000 worth of additional supplies purchased on account

d. $10,000 worth of supplies used to provide clients with goods and services.

e. Bills are submitted to insurance companies in the amount of $90,000 for services rendered to patients.

f. Cash payments of $60,000 are received for services previously provided and billed.

a. supplies Dr.$30000

To cash $30000

b. Accrued wages Dr.$50000

To cash $50000

c. supplies Dr.$5000

To Accounts payable $5000

d. supplies Expense Dr.$10000

To supplies $10000

e. Account receivable Dr.$90000

To service revenue $90000

f. cash Dr.$60000

To accounts receivable $60000

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