Question

Sheridan is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred.
April 1 Invested $19,000 cash in her business.
1 Hired a secretary-receptionist at a salary of $700 per week payable monthly.
2 Paid office rent for the month $1,200.
3 Purchased dental supplies on account from Dazzle Company $4,900.
10 Performed dental services and billed insurance companies $5,100.
11 Received $1,300 cash advance from Leah Mataruka for an implant.
20 Received $2,700 cash for services performed from Michael Santos.
30 Paid secretary-receptionist for the month $2,800.
30 Paid $3,140 to Dazzle for accounts payable due.

Required:
Journalize the transactions.

Answer 1

Journalizing the transactions during the month of April is as follows:

Journal Entries:

April 1 Debit Cash $19,000

Credit Common Stock $19,000

To record the issuance of stock for cash.

April 2 Debit Office Rent Expense $1,200

Credit Cash $1,200

To record the payment for rent expense for the month.

April 3 Debit Dental Supplies $4,900

Credit Accounts Payable (Dazzle Company) $4,900

To record the purchase of supplies on account.

April 10 Debit Accounts Receivable $5,100

Credit Service Revenue $5,100

To record the services performed on account.

April 11 Debit Cash $1,300

Credit Deferred Revenue (Leah Mataruka) $1,300

To record cash received in advance for an implant.

April 20 Debit Cash $2,700

Credit Service Revenue $2,700

To record receipt of cash for services performed.

April 30 Debit Salary Expense $2,800

Credit Cash $2,800

To record the payment of salary for the month.

April 30 Debit Accounts Payable (Dazzle Company) $3,140

Credit Cash $3,140

To record payment on account.

Data Analysis:

April 1 Cash $19,000 Common Stock $19,000

April 1 Hired a secretary-receptionist at a salary of $700 per week payable monthly.

April 2 Office Rent Expense $1,200 Cash $1,200

April 3 Dental Supplies $4,900 Accounts Payable (Dazzle Company) $4,900

April 10 Accounts Receivable $5,100 Service Revenue $5,100

April 11 Cash $1,300 Deferred Revenue (Leah Mataruka) $1,300

April 20 Cash $2,700 Service Revenue $2,700

April 30 Salary Expense $2,800 Cash $2,800

April 30 Accounts Payable (Dazzle Company) $3,140 Cash $3,140

Read more about recording journal entries at brainly.com/question/17201601