Answer:
Simmons Consulting Co
<u><em>General Journal</em></u>
Oct 1
Rent Expense $4,800 (debit)
Cash $4,800 (credit)
<em>Paid Rent Expense</em>
Oct 3
Advertising expense $2,500 (debit)
Cash $2,500 (credit)
<em>Paid Advertising Expense</em>
Oct 5
Supplies $1,390 (debit)
Cash $1,390 (credit)
<em>Paid for Supplies</em>
Oct 6
Office equipment $10,670 (debit)
Office Equipment Accounts Payable $10,670 (credit)
<em>Bought Office equipment on credit</em>
Oct 10
Accounts Receivable $19,730 (debit)
Cash $19,730 (credit)
<em>Received payment from accounts</em>
Oct 15
Cash $59,480 (debit)
Accounts Payable $59,480 (credit)
<em>Made payment to Accounts Payable</em>
Oct 27
Miscellaneous Expenses $530 (debit)
Cash $530 (credit)
<em>Paid for Miscellaneous Expenses</em>
Oct 30
Utilities expense $220 (debit)
Cash $220 (credit)
<em>Paid for telephone bill</em>
Oct 31
Cash $538,620 (debit)
Fees Earned $538,620 (credit)
<em>Cash received for Fees Earned</em>
Oct 31
Utilities expense $1,540 (debit)
Cash $1,540 (credit)
<em>Paid for electricity bill</em>
Oct 31
Drawings $56,700 (debit)
Cash $56,700(credit)
<em>Cash drawings by owner</em>
Explanation:
I have prepared the journals and their narrations, see the above.
