Question

Prepare general journal entries to record the following transactions. No explanations.Jan. 3 Paid office rent, $1,600.4 Bought a truck costing $50,000, making a down payment of $7,000.6 Paid wages, $3,000.7 Received $16,000 cash from customers for services performed.10 Paid $4,100 owed on last month's bills.12 Billed credit customers, $5,300.17 Received $1,800 from credit customers.19 Taylor Gordon, the owner, withdrew $1,700.23 Paid $700 on amount owed for truck.29 Received bill for utilities expense, $255.AccountsCashAccounts ReceivableTruckAccounts PayableTaylor Gordon, DrawingService FeesRent ExpenseWages ExpenseUtilities Expense

Answer 1

Answer:

Jan. 3 Paid office rent, $1,600.

Dr Rent expense 1,600

    Cr Cash 1,600

4 Bought a truck costing $50,000, making a down payment of $7,000.

Dr Truck 50,000

    Cr Cash 7,000

    Cr Accounts payable 43,000

6 Paid wages, $3,000.

Dr Wages expense 3,000

    Cr Cash 3,000

7 Received $16,000 cash from customers for services performed.

Dr Cash 16,000

    Cr Service fees 16,000

10 Paid $4,100 owed on last month's bills.

Dr Accounts payable 4,100

    Cr Cash 4,100

12 Billed credit customers, $5,300.

Dr Accounts receivable 5,300

    Cr Service fees 5,300

17 Received $1,800 from credit customers.

Dr Cash 1,800

    Cr Accounts receivable 1,800

19 Taylor Gordon, the owner, withdrew $1,700.

Dr Taylor Gordon, Drawing 1,700

    Cr Cash 1,700

23 Paid $700 on amount owed for truck.

Dr Accounts payable 700

    Cr Cash 700

29 Received bill for utilities expense, $255.

Dr Utilities expense 255

    Cr Accounts payable 255