Journal Entry for 2/ 1 Paid $4,000 for office rent for the month. 2/ 3 Purchased

Question

Journal Entry for

2/ 1   Paid $4,000 for office rent for the month.

2/ 3   Purchased on account supplies for $1,300.

2/ 4   Paid the $1,200 for January utilities.

2/ 7   Collected $4,500 from Mrs. Smith.

2/11   Completed a job for Mr. Ellis for $5,100 and collected the $5,100 from him.

2/28 completed a job for mr. putter and presented him with a bill for $6400

2/28   Paul withdrew $1,000 from the business and Sylvia withdrew $1,000.

2/28   Utilities for the month cost $1,500. (The bill will be paid in March.)

Supplies that had cost $800 were still on hand at the end of the month.

1) Prepare Journal entries for the month, including adjusting entries for depreciation and supplies

Explanation / Answer

For depreciation and supplies ,Information regarding asset cost ,useful life ,salvage etc is missing.for supplies ,supplied used during the month is missing

Date Account Debit credit 2/1 Office rent expense 4000 cash 4000 [rent paid] 2/3 Supplies 1300 Accounts payable 1300 [Supplies purchased on account] 2/4 utilities expense payable 1200 cash 1200 2/7 cash 4500 Accounts receivable 4500 [Amount collected] 2/11 Cash 5100 sales revenue 5100 2/28 Accounts receivable 6400 sales revenue 6400 2/28 Paul drawings 1000 Sylvia drawings 1000 cash 2000 2/28 Utilities expense 1500 utilities expense payable 1500

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