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Transactions Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Oct. 1. Paid rent for the month, $4,200. 3. Paid advertising expense, $2,670. 5. Paid cash for supplies, $1,150. 6. Purchased office equipment on account, $17,600. 10. Received cash from customers on account, $5,730. 15. Paid creditors on account, $1,680. 27. Paid cash for miscellaneous expenses, $730. 30. Paid telephone bill (utility expense) for the month, $270. 31. Fees earned and billed to customers for the month, $38,200. 31. Paid electricity bill (utility expense) for the month, $460. 31. Withdrew cash for personal use, $2,900. Journalize the selected transactions for October 2019. 2019 Oct. 1 2019 Oct. 3 2019 Oct. 5 2019 Oct. 6 2019 Oct. 10 2019 Oct. 15 2019 Oct. 27 2019 Oct. 30 Oct. 31: Fees earned Oct. 31: Paid bill Oct. 31: Withdrawal

User MatrixTXT
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1 Answer

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Answer:

Oct. 1 2019

Rent Expense$4,200 (debit)

Cash $4,200 (credit)

Oct. 3 2019

Advertising Expense $2,670 (debit)

Cash $2,670 (credit)

Oct. 5 2019

Supplies $1,150 (debit)

Cash $1,150 (credit)

Oct. 6 2019

Office Equipment $17,600 (debit)

Accounts Payable $17,600 (credit)

Oct. 10 2019

Cash $5,730 (debit)

Accounts Receivable $5,730 (credit)

Oct. 15 2019

Accounts Payable $1,680 (debit)

Cash $1,680 (credit)

Oct. 27 2019

Miscellaneous Expense $730 (debit)

Cash $730 (credit)

Oct. 30

Utilities Expense $270 (debit)

Cash $270 (debit)

Oct. 31: Fees earned

Trade Receivable $38,200 (debit)

Fees Earned $38,200 (credit)

Oct. 31: Paid bill

Utilities Expense $460 (debit)

Cash $460 (debit)

Oct. 31: Withdrawal

Jason Payne, Capital $2,900 (debit)

Cash $2,900 (credit)

Step-by-step explanation:

Note

Cash Drawings reduce the owners interest in their capital accounts and at the same time they reduce the assets of cash.

User Nagri
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