Question

DATE			TRANSACTIONS
2019
Sept.		1	Zack Mason invested $30,000 in cash to start the firm.
		4	Purchased office equipment for $3,250 on credit from Den, Inc.? received Invoice 9823, payable in 30 days.
		16	Purchased an automobile that will be used to visit clients? issued Check 1001 for $15,000 in full payment.
		20	Purchased supplies for $260? paid immediately with Check 1002.
		23	Returned damaged supplies for a cash refund of $85.
		30	Issued Check 1003 for $2,100 to Den, Inc., as payment on account for Invoice 9823.
		30	Withdrew $1,500 in cash for personal expenses.
		30	Issued Check 1004 for $3,500 to pay the rent for October.
		30	Performed services for $7,325 in cash.
		30	Paid $220 for monthly telephone bill, Check 1005.

Prepare journal entries for the transactions incurred during September of 2019.

Answer 1

Journal Entries
date	explanation	debit	credit
1-Sep	cash	30000
	capital-common stock		30000
4-Sep	office equipment	3250
	accounts payable		3250
16-Sep	automobile	15000
	cash		15000
20-Sep	supplies	260
	cash		260
23-Sep	cash	85
	supplies		85
30-Sep	accounts payable	2100
	cash		2100
30-Sep	drawings	1500
	cash		1500
30-Sep	prepaid rent	3500
	cash		3500
30-Sep	cash	7325
	service revenue		7325
30-Sep	telephone expense	220
	cash		220