The Boa Co. has the following accounts in its ledger: cash, accounts receivable,

Question

The Boa Co. has the following accounts in its ledger: cash, accounts receivable, supplies, office equipment, accounts payable, Alfonzo Finley, capital, Alfonzo Finley, drawing, fees earned, rent expenses, advertising expenses, utilities expenses, and miscellaneous expense. Journalize the following selected transactions for October 2007 in a two column journal. October: 1- Paid rent for the month, $2,500 3- Paid advertising expenses, $ 1,100 4- Paid cash for supplies, $725 6- Purchased office equipment on account, $7,500 10- Received cash from customers on account, $3,600 12- Paid creditor on account, $600 20- Withdrew cash for personal use, $1,000 27- Paid cash for repairs to office equipment, $500 30- Paid telephone bill for the month, $195 31- Fees earned and billed to the customer for the month, $20,150 31- Paid electricity bill for the month, $315

Explanation / Answer

DATE ACCOUNT DEBIT ($) CREDIT ($) Oct-01 Rent expense 2,500 Cash 2,500 Oct-03 Advertising expense 1,100 Cash 1,100 Oct-04 Supplies 725 Cash 725 Oct-06 Office equipment 7,500 Accounts payable 7,500 Oct-10 Cash 6,300 Accounts receivable 6,300 Oct-12 Accounts payable 600 Cash 600 Oct-20 Capital 1,000 Drawings 1,000 Oct-27 Miscellaneous expense 500 Cash 500 Oct-30 Utilities expenses 195 Cash 195 Oct-31 Accounts receivable 20,150 Fees earned 20,150 Oct-31 Utilities expenses 315 Cash 315

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.