Connect https//newconnect.mheducation.com/flow/connect.html Saved Global Deliver

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Connect https//newconnect.mheducation.com/flow/connect.html Saved Global Delivery opened for business on July 1,.2019 The company uses the general ledger accounts listed below. Du month of business, the firm had the transactions listed below. 101 Cash 103 Accounts Receivable 105 Supplies 107 Delivery Equipment 201 Accounts Payable 301 Colleen Miriam, Capital 305 Colleen Miriam, Drawing 401 Delivery Fee Income 5e1 Advertising Expense 505 Rent Expense 510 Utilities Expense July1 Colleen Miriam, the owner, invested $66,e00 cash in the business. 1 Issued Check 1e1 for $2,600 to pay the rent fon duly 5 Bought delivery equipment for $14,100. Issued Check 102 for $8,400; balance is due in 60 days. 9 Purchased supplies for $500 cash, Check 103. 11 Returned damaged supplies and received a cash refund of $130. 12 Performed delivery services for $1,63e on credit 15 Purchased supplies for $300 cash, Check 104 15 Issued Check 105 for $385 for a newspaper advertisement 22 Issued Check 106 for $500 to pay creditons for supplies. 26 Issued Check 107 for $2,200 to Colleen Minian for personal expenses. 27 Performed delivery services for $4,700 cash. 1 Issued Check 1e8 for $490 for utilities. Prepare journal entries to record the above transactions. Post the transactions into the appropriate Cash general ledg Complete this question by entering your answers in the tabs below.

Explanation / Answer

1) Journal Entries (Amount in $)

Posting of transactions into cash general ledger accounts (Amounts in $)

Account: Cash Account No. 101

Date Account Titles and Explanation Debit Credit July 01 Cash 66,000 Colleen Miriam, Capital 66,000 July 01 Rent Expense 2,600 Cash 2,600 July 05 Delivery Equipment 14,100 Cash 8,400 Accounts Payable (14,100 - 8,400) 5,700 July 09 Supplies 500 Cash 500 July 11 Cash 130 Supplies 130 July 12 Accounts Receivable 1,630 Delivery Fee Income 1,630 July 15 Supplies 300 Cash 300 July 15 Advertising Expense 385 Cash 385 July 22 Accounts Payable 500 Cash 500 July 26 Colleen Miriam, Drawing 2,200 Cash 2,200 July 27 Cash 4,700 Delivery Fee Income 4,700 July 31 Utilities Expense 490 Cash 490

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