journalize the transactions Lawrence fnarcel chool Dt f lust Zau rence f arcel c

Question

journalize the transactions

Lawrence fnarcel chool Dt f lust Zau rence f arcel chool er flust Transactions Entered into an agreement to provide daily musical interludes for an office complex at a rate of $1,750 per 5 work day week. Received four weeks advanced payment and began services today. Rented additional space in their current office complex at a rate of $1,000 per month. Paid three months rent. Received a $3,700 payment on the outstanding accounts receivable balance Provided services and collected $5,000 Provided services that total $7,500. Collected $2,500 and billed the customer for the remainder Paid Office employees, $2,500. Received weekly payments for providing individual lessons, $1.900 Received payment on previously billed account, $4,500. Paid $10,000 on the outstanding accounts payable balance. Provided services and collected $3,100 Received payment from previously billed customer, $2,100. Paid office employees, $2,500 Received payment for providing indivdual weekly lessons, $3,200. July 15 July 15 July 16 July 17 July 18 July 19 July 19 July 22 July 23 July 24 July 25 July 26 July 26 July 29 uly 31 Provided services and billed the customer, $1,400 Provided services and collected $2,300.

Explanation / Answer

GENERAL JOURNAL Date Account Account Title and explanation Debit Credit Code July 15 100 Cash $7,000 (1750*4) 215 Unearned Music Fees $7,000 (To record advance received for music interludes) July15 130 Prepaid Rent $3,000 100 Cash $3,000 (1000*3) (To record payment of rent in advance) July 16 100 Cash $3,700 110 Accounts Receivable $3,700 (To record receipt from accounts receivable balance) July17 100 Cash $5,000 400 Music Fees Earned $5,000 (To record music fees earned) July18 100 Cash $2,500 110 Accounts Receivable $5,000 400 Music Fees Earned $7,500 (To record Music Fees on cash and credit) July 19 525 Office Salaries Expense $2,500 100 Cash $2,500 (To record office salaries paid) July 19 100 Cash $1,900 400 Music Fees Earned $1,900 (To record music fees earned in cash) July22 100 Cash $4,500 110 Accounts Receivable $4,500 (To record payment received against bill) Jul 23 200 Accounts payable $10,000 100 Cash $10,000 (To record cash paid against accounts payable) July 24 100 Cash $3,100 400 Music Fees Earned $3,100 (To record music fees earned in cash) July 25 100 Cash $2,100 110 Accounts Receivable $2,100 (To record payment received against bill) July 26 525 Office Salaries Expense $2,500 100 Cash $2,500 (To record office salaries paid) July 26 100 Cash $3,200 400 Music Fees Earned $3,200 (To record music fees earned in cash) July 29 110 Accounts Receivable $1,400 400 Music Fees Earned $1,400 (To record services provided on credit) July31 100 Cash $2,300 400 Music Fees Earned $2,300 (To record music fees earned in cash)

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