Question

The May transactions of Hanschu Corporation were as follows.

May 4 Paid $700 due for supplies previously purchased on account.
May 7 Performed advisory services on account for $6,800.
May 8 Purchased supplies for $850 on account.
May 9 Purchased equipment for $1,000 in cash.
May 17 Paid employees $530 in cash.
May 22 Received bill for equipment repairs of $900.
May 29 Paid $1,200 for 12 months of insurance policy. Coverage begins June 1.


Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Answer 1

account payable 700 debit

cash 700 credit

account receivables 6800 debit

service revenue 6800 credit

supplies 850 debit

accounts ayable 850 credit

equipment 10,000 debit

cash 10,000 credut

salaries expense 530 debit

cash 530 credit

repairs expense 900 debit

cash 900 credit

prepad insurance 1,200 debit

cash 1,200 credit

Step-by-step explanation:

We record using the accountign principles and rules suh ch as 1 value per account per entry.

debit = credit

among others.