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GrogVix [38]
3 years ago
10

The May transactions of Whispering Winds Corp. were as follows. May 4 Paid $690 due for supplies previously purchased on account

. 7 Performed advisory services on account for $6,690. 8 Purchased supplies for $830 on account. 9 Purchased equipment for $1,620 in cash. 17 Paid employees $520 in cash. 22 Received bill for equipment repairs of $870. 29 Paid $1,230 for 12 months of insurance policy. Coverage begins June 1.
Journalize the transactions. (If no entry is required, select "No Entry for the account titles and enter o for the amounts. Credit Indented when amount is entered. Do not indent manually. Record Journal entries in the order presented in the problem.)
Date Account Titles and Explanation Debit Credit
Business
1 answer:
Norma-Jean [14]3 years ago
8 0

Answer and Explanation:

The journal entries are given below:

On May 4

Accounts Payable $690  

        To Cash  $690

(Being cash paid is recorded)

On May 7

Accounts receivables $6,690  

         To Service revenue $6,690

(Being service revenue is recorded)

On May 8

Supplies $830  

      To Accounts Payable $830

(Being supplies purchased on account)

On May 9

Equipment $1,620  

        To Cash  $1,620

(Being cash paid is recorded)

On May 17

Salaries expense $520  

        To Cash  $520

(Being cash paid is recorded)

On May 22

Repair expense  $870  

     To Accounts payable $870

(Being repair expense is recorded)

On May 29

Prepaid Insurance $1,230  

       To Cash   $1,230

(being cash paid is recorded)

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