Question

1. Transactions

   Innovative 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.

   Journalize the following selected transactions for October 20Y2 in a two-column journal. Journal entry explanations may be omitted. If an amount box does not require an entry, leave it blank.

   Oct. 1.	Paid rent for the month, $3,100.
   3.	Paid advertising expense, $2,000.
   5.	Paid cash for supplies, $860.
   6.	Purchased office equipment on account, $13,100.
   12.	Received cash from customers on account, $4,280.
   20.	Paid creditor on account, $1,250.
   27.	Paid cash for miscellaneous expenses, $540.
   30.	Paid telephone bill for the month, $200.
   31.	Fees earned and billed to customers for the month, $28,500.
   31.	Paid electricity bill for the month, $340.
   31.	Paid dividends, $2,200.

   20Y2 Oct. 1
   Oct. 3
   Oct. 5
   Oct. 6
   Oct. 12
   Oct. 20
   Oct. 27
   Oct. 30
   Oct. 31
   Oct. 31
   Oct. 31

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Answer 1

Date	Particulars	Amount (Dr)	Amount (Cr.)
2002
oct 1.	Rent	3100
	To cash A/c		3100
3	Advertising exp.	2000
	To cash A/c		2000
5	purchase/supplies	860
	to cash A/c		860
6	office equipment	13100
	to Accounts Payable A/c		13100
12	Cash	4280
	to Accounts Receivable		4280
20	account payable	1250
	to Cash		1250
27	miscellaneous expen.	540
	to cash		540
30	Utility expense	200
	to cash A/c		200
31	Accounts receivable	28500
	fee earned		28500
31	electricity expenses a/c	340
	to Cash		340
31	Dividend	2200
	to Cash a/c		2200
	Total	56370	56370