Answer:
June 1st
Cash 21,800 debit
Common Stock 21,800 credit
June 2nd
Van-automobile 14,200 debit
Cash 4,000 credit
Note payable 10,200 credit
June 3rd
Rent expense 400 debit
Cash 400 credit
June 5th
Accounts receivables 5,200 debit
Sales Revenue 5,200 credit
June 9th
Dividends 300 debit
Cash 300 credit
June 12th
Supplies 200 debit
Accounts Payable 200 credit
June 15th
Cash 1,400 debit
Accounts receivables 1,400
June 17th
Gasoline expense 200 debit
Accounts Payable 200 credit
June 20th
Cash 1,300 debit
Service Revenue 1,300 credit
June 23th
Note payable 600 debit
Cash 600 credit
June 26th
utilities expense 350 debit
cash 350 credit
June 29th
accounts payable 200 debit
cash 200 credit
June 30th
salaries expense 1,730 debit
cash 1,730 credit
Explanation:
Rules to perform journal entries:
credit = debit
also there should be at lease one account on debit and one in credit.
We must also remember that debits must be enter first.
Also, each acount must represent a single event or stuff. It cannot represent both stuff.
