FIll in the journal entries using the above information August 5-paid employee f
ID: 2560161 • Letter: F
Question
FIll in the journal entries using the above information
August 5-paid employee for period ending 7/31 August 8-Receive payments from customers towards accounts receivable in amount of $3200. August 10-paid July telephone bill August 15- Purchase additional baking supplies in amount of $5000 from vendor, on account August 15-Accrue wages earned for employee from period of 1st through 15" of August (wage calculations table provided below) August 15-Pay rent on bakery space $1500 August 18-Receive payments from customers towards accounts receivable in amount of $1000 August 20-paid $8500 toward baking supplies vendor payable August 20-pay employee for period ending 8/15 August 22- $300 in misc. supplies purchased August 31-received telephone bill for August in amount of $45. Payment is due on September 10h ACE wgus samss teremplove tor t through Augut 3i" (Wage calculations table provided below) August bakery sales total $20,000. $7,500 of this total on accounts receivableExplanation / Answer
NA = Amount not available in the given question.
Date Accounts Debit Credit 5-Aug Wages Payable - 203 NA Cash - 101 NA (To record wages paid) 8-Aug Cash - 101 $3,200 Accounts Receivable - 107 $3,200 (To record payment received) 10-Aug Telephone Expense - 508 NA Cash - 101 NA (To record telephone expense) 15-Aug Baking Supplies - 102 $5,000 Accounts Payable - 202 $5,000 (To record baking supplies purchased) 15-Aug Wages Expense - 507 NA Wages Payable - 203 NA (To record wages accrued) 15-Aug Rent Expense - 502 $1,500 Cash - 101 $1,500 (To record rent paid) 18-Aug Cash - 101 $1,000 Accounts Receivable - 107 $1,000 (To record payment received) 20-Aug Accounts Payable - 202 $8,500 Cash - 101 $8,500 (To record payment to baking vendor) 20-Aug Wages Payable - 203 NA Cash - 101 NA (To record wages paid) 22-Aug Misc. Supplies - 106 $300 Cash - 101 $300 (To record misc. supplies purchased) 31-Aug Wages Expense - 507 NA Wages Payable - 203 NA (To record wages accrued) 31-Aug Accounts Receivable - 107 $7,500 Cash - 101 $12,500 Sales - 401 $20,000 (To record sales)Related Questions
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