Question

The May transactions of Bramble Corp. were as followsMay 4 Paid $610 due for supplies previously purchased on account.7 Performed advisory services on account for $6,840.8 Purchased supplies for $870 on the account.9 Purchased equipment for $1,930 in cash17 Paid employees $700 in cash22 Received bill for equipment repairs of $80029 Paid $1,280 for 12 months of the insurance policy. Coverage begins JuneJournalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Answer 1

Answer: Please see answers in explanation  column

Explanation:

a)Journal To record payment due for supplies

Date Account titles                 Debit              Credit

May 4 Accounts Payable                 $610  

                    Cash                                                        $610

(b)Journal To record services on account  

May 7 Accounts Receivable            $6,840  

      Service Revenue                                            $6,840

c)Journal To record supplies on account  

May 8          Supplies                             $870  

    Accounts Payable                                                   $870

d)Journal  To record equipment purchased for cash

May 9 Equipment                        $1,930  

                Cash                                                         $1,930

 

May 17 Journal To record cash paid to employees

Salaries and Wages                                $700  

     Cash                                                                                 $700

May 22  Journal To record bill received for for Equipment repairs

       Repair and Maintenance                      $800  

    To Accounts Payable                                                $800

 

May 29 Journal to record Prepaid insurance

Prepaid Insurance                              $1,280  

    To Cash                                                                     $1,280