Question

Emily Valley is a licensed dentist. During the first month of the operation of her business,...

Emily Valley is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred.
April 1 Invested $21,000 cash in her business.
1 Hired a secretary-receptionist at a salary of $500 per week payable monthly.
2 Paid office rent for the month $1,200.
3 Purchased dental supplies on account from Dazzle Company $4,500.
10 Performed dental services and billed insurance companies $5,100.
11 Received $1,200 cash advance from Leah Mataruka for an implant.
20 Received $1,600 cash for services performed from Michael Santas.
30 Paid secretary-receptionist for the month $2,000.
30 Paid $3,375 to Dazzle for accounts payable due.
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. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Owner’s investment of cash in business)

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Hired a secretary-receptionist)

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Paid monthly office rent)

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Purchased supplies on account from Dazzle Company)

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Billed clients for services performed)

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Received cash for future service)

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Received cash for services performed)

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Paid monthly salary)

Apr. 1Apr. 2Apr. 3Apr. 10Apr. 11Apr. 20Apr. 30
(Paid Dazzle Company on account)
Business   Accounting   
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Homework Answers

Answer #1

Journal entries

Date Particulars Debit Credit
Apr. 1

Cash A/c

To Capital A/c

21000

21000
Apr. 1 No entry
Apr. 2

Rent A/c

To Cash A/c

1200

1200
Apr. 3

Supplies A/c

To Dazzle Company A/c

4500

4500
Apr. 10

Insurance companies A/c

To Service revenue A/c

5100

5100
Apr. 11

Cash A/c

To Leah mataruka

1200

1200
Apr. 20

Cash A/c

To service revenue A/c

1600

1600
Apr. 30

Salary A/c

To Cash A/c

2000

2000
Apr. 30

Dazzle Company A/c

To Cash A/c

3375

3375
0 0
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