Answer:
Zenith Consulting Co.
Journal entries:
Date Description Debit Credit
March 1: Rent Expense $2,100
Cash Account $2,100
To record payment of rent for the month.
March 3: Advertising Expense $650
Cash Account $650
To record advertising expense paid for the month.
March 5: Supplies $1,350
Cash Account $1,350
To record the payment for supplies.
March 6: Office Equipment $9,300
Accounts Payable $9,300
To record the purchase of office equipment on account.
March 10: Cash Account $15,600
Accounts Receivable $15,600
To record cash received from customers on account.
March 15: Accounts Payable $3,430
Cash Account $3,430
To record the payment of creditor on account.
March 27: Miscellaneous Expense $500
Cash Account $500
To record the payment for miscellaneous expenses.
March 30: Utilities Expense $300
Cash Account $300
To record the payment of telephone bill for the month.
March 31: Accounts Receivable $51,230
Fees Earned $51,230
To record fees earned and billed to customers for the month.
March 31: Utilities Expense $840
Cash Account $840
To record the payment for electricity bill for the month.
March 31: Dividends $1,650
Cash Account $1,650
To record the payment of dividends.
Explanation:
A two-column journal has a debit column and a credit column for initial recording of business transactions. A journal identifies the account to be debited and the one to be credited in the general ledger.
