Question

Zenith Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.TransactionsMar. 1 Paid rent for the month, $4,000. 3 Paid advertising expense, $1,350. 5 Paid cash for supplies, $1,800. 6 Purchased office equipment on account, $11,500. 10 Received cash from customers on account, $8,600. 15 Paid creditor on account, $3,180. 27 Paid cash for miscellaneous expenses, $700. 30 Paid telephone bill for the month, $550. 31 Fees earned and billed to customers for the month, $37,200. 31 Paid electricity bill for the month, $830. 31 Paid dividends, $2,000.Journalize the preceding selected transactions for March 2018 in a two-column journal. Refer to the Chart of Accounts for exact wording of account titles.

Answer 1

Date Particulars Debit Credit

Mar. 1 Rent expense 4000

Cash 4000

Paid rent for the month

Mar. 3 Advertising expense 1350

Cash 1350

Paid advertising expense

Mar. 5 Supplies 1800

Cash 1800

Paid cash for supplies

Mar. 6 Equipment 11500

Accounts payable 11500

Purchased office equipment

on account

Mar. 10 Cash 8600

Accounts receivable 8600

Received cash from customers

on account

Mar. 15 Accounts payable 3180

Cash 3180

Paid creditor on account

Mar. 27 Miscellaneous expenses 700

Cash 700

Paid cash for miscellaneous

expenses

Mar. 30 Utilities expenses 550

Cash 550

Paid telephone bill for the month

Mar. 31 Accounts receivable 37200

Fees earned 37200

Fees earned and billed to

customers for the month

Mar. 31 Utilities expenses 830

Cash 830

Paid electricity bill for the month

Mar. 31 Dividends 2000

Cash 2000

Paid dividends