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hammer [34]
3 years ago
8

Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Account

s Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.
Transactions
Oct. 1. Paid rent for the month, $5,000.
3. Paid advertising expense, $3,170.
5. Paid cash for supplies, $1,360.
6. Purchased office equipment on account, $20,800.
10. Received cash from customers on account, $6,800.
15. Paid creditors on account, $1,990.
27. Paid cash for miscellaneous expenses, $860.
30. Paid telephone bill (utility expense) for the month, $320.
31. Fees earned and billed to customers for the month, $45,300.
31. Paid electricity bill (utility expense) for the month, $540.
31. Withdrew cash for personal use, $3,400.

Journalize the following selected transactions for October 2019 in a two-column journal. Refer to the Chart of Accounts for exact wording of account titles.
Business
1 answer:
alexgriva [62]3 years ago
7 0

Answer:

Explanation:

The journal entries are presented below:

On Oct 1

Rent expense A/c Dr $ 5,000

       To Cash A/c $5,000

(Being payment of rent is made in cash)  

On Oct 3

Advertising expense A/c Dr $3,170

      To Cash A/c $3,170

(Being payment of adverting expense is made in cash)  

On Oct 5

Supplies A/c Dr $ 1,360

        To Cash A/c $1,360

(Being payment of supplies is made in cash)  

On Oct 6

Office equipment A/c Dr $20,800

        To Accounts payable $20,800

(Being purchase of office equipment on account is recorded)  

On Oct 10

Cash A/c Dr $6,800

         To Accounts receivable $6,800

(Being cash is received from customer is recorded)

On Oct 15

Accounts payable A/c Dr $1,990

       To Cash A/c $1,990

(Being payment is made in cash is recorded)

On Oct 27

Miscellaneous expense A/c Dr $860

          To Cash A/c $860

(Being miscellaneous expenses is paid in cash is recorded)  

On Oct 30

Utilities expenses $320

        To Cash A/c $320

(Being telephone expenses is paid in cash is recorded)  

On Oct 31

Accounts receivable A/c Dr $45,300

          To Fees earned $45,300

(Being feed earned and billed customer is recorded)

On Oct 31

Utilities expenses $540

     To Cash A/c $540

(Being electricity expenses is paid in cash is recorded)  

On Oct 31

Drawings A/c Dr $3,400

    To Cash A/c $3,400

(Being personal use amount is recorded)

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