Question

DATE TRANSACTIONS 2019 Sept. 1 Zack Mason invested $30,000 in cash to start the firm. 4...

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.

Homework Answers

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

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