b. Also prepare any footnotes to the July 31 financial statements that result from these transactions. Provided $1,200 of services on account. Cash balance per bank, July 31, $7,843. Provided $94,000 of services on account. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $233,170. FOB shipping point. b. July cash collections are $548,450. Both companies use a perpetual inventory system. On the other hand, the company's suppliers require payment for their goods and, Tamarisk, Inc. had the following transactions in May, its first month of business. 1. Purchased $16,820 of materials on account. The payment from Rymex was received on September 20. Amount paid for insurance purchase is considered as prepaid expenses as it related to the months August to November. (add revenue with beginning retained earning then subtract "expenses"). The company paid cash. Step-by-step explanation 1. 3. 4. II. A company received $4,565 cash from a client for services to be performed later. 2. Received $5,200 cash from the issuance of common stock to owners. Borrowed $6,000 from the bank by signing a promissory note. New Era Cleaning Service, Inc. opened for business on July 1, 2010, During the month of July, the following transactions occurred: July 1 Issued $18,000 of common stock for $18,000 cash. On July 7, it returned $410 worth of merchandise. Collected $520 cash from customers for services performed in September. 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. Provided $13,600 of services on account. 4 Paid $20,000 cash for land to use as a building site. Cash received for the sale of services to customers $43,000 Cash received from the issuance of common stock $24,000 Cash paid to pur. 3 Purchased cleaning suppli, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Dexter invests $10,000 cash in Camden in exchange for its common stock. B. Received $5,900 cash from the issuance of common stock to owners. Provided services for $5,500 cash. D. $1,60. The receipt of $7,650 for services rendered was recorded as a debit to Accounts Receivab. 4. Dividends of $9,500 were paid to stockholders in cash. note. Prepare the general journal entry to record this transaction. C. Collected cash from customers. 2. Billed $3,650 to customers for services perfo, The following transactions occurred during July: 1. The following transactions occurred during July: 1. During 2022, Flounder Corp. entered into the following transactions. Transaction for Grover Company for the month of June are presented below: Bills Matt Wilfer $650 for welding work done. Journalize the following transactions. 2. Revenue will be earned next year. The following transactions were completed during the month. a. Debit cash $10,200, credit deferred revenue $10,200. Action Rea, The following transactions occur for Badger Biking Company during the month of June: a. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. July 1 Jara invested 19,841 cash in the business. The goods were shipped to Rymex on July 2. Assume 360 days in a year. Borrowed 563,900 by issuing bonds. 2. 3) Earned $700 of revenues. 1. d. $1.80, Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Mark paid. Terms on sales on account are 2/10, n/30, FOB shipping point. 2. 2. 2. Provided services of $15,600 on account. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Journalize the following selected transactions for January : 1. A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted on July 18. The following transactions were completed during the month. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. The following transactions occurred during July: Received $1,050 cash for services provided to a customer during July. Collected $84,000 cash, The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. A company purchased $3,400 of merchandise on July 5 with terms of 2/10, n/30. in July. During the year, the following transactions occurred. Received $600 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. 1 Purchased used the truck for $, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. 1) Linda invested RM30,000 cash in the business. Credit terms were 2/10, and n/30. 2. A $400 credit to Prepaid Insurance and an$800 debit to Interest Payable. 4. On July 30, the fund had $12 cash remaining and petty cash receipts for postage $14, office supplies $10, and delivery expense $15. Paid a $27,200 cash, The following transactions apply to Park Co. for 2016: 1. 2. 1: Purchased, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Invested $15,000 in cash in the law practice. July 1: Purchased used truck, A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. Anya Clark opened Anya's Cleaning Service on July 1, 2017. July 1 Anya invested $20,000 cash in the business. 3. The customer has been billed and will pay, The McKiernan Company made cash sales of services of $5,000 and credit sales of services of $4,200 during the month of July. d. June 29: Paid a $6, Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. 5. The company paid cash. Received $3,400 cash investment from Bob Johnson, the owner of the business. 2. 3. 5. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Business Advisory; Business Valuation; Corporate Finance; Cash Flow Modelling; M&A Advisory; Venture Capital; Private & Public Partnerships; Owner Supervision And Internal Control; Family Wealth Management; International IPO; 3. Classify each of these transactions as operating, investing, or financing activities. 1) Collected $395 cash from customers for services provided in May. 2. Received $1,100 cash for services provided to a customer during July. 3. Services were provided to cust. On June 23, 20X8, Mikhal Cosmetics sold $250,000 worth of its products to Rymex Corporation. 3. Paid expenses amounting to, Journalize the following selected transactions for January : 1. July bank service charge not recorded by the depositor $36. Billed $3,500 to customers for services performed on account in July. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. Experts are tested by Chegg as specialists in their subject area. Issued common stock for $5,600 cash. i want to log off of my account how do i do that?? The following transactions occurred during July: a. The following transactions occurred during July: 1. Issued 42,000 shares of common stock in exchange for $420,000 in cash. 1. Received $820 from a customer in partial payment of his account receivable which arose from sales in June. Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. 1 Announced a 2 for-1 stock split. 3. Equipment of $12,000 was purchased. During July the following transactions were completed. 8 Received. $555. Received cash from, The following transactions apply to Brooks Co. for 2014, its first year of operations. The following transactions occurred during July: 1. $700 b. Provided services to customers on account, $2,000. 8 Billed customers for $3,000. The following transactions occurred during July 1. 5 Made credit sales of $25,000 Jun. 3. Received $900 cash for services provided to a customer during July. 1.The company provided $21,160 of services for customers on account. On July 7, it returned $280 worth of merchandise. 4. What transaction does the following general journal entry represent? Received $1,400 cash for services performed during July. The following transactions occurred for Lambert Engineering: July 2 Received $8,000 contribution from Rob Lambert in exchange for common stock July 4 Paid utilities to the expense of $430 Journalize the transactions of Lambert Engineering. A relatively high ratio is always desirable. Issued $130,000 of common stock for cash. Received $970 cash for services provided to a customer during July. Linda Blye opened Cardinal Window Washing, Inc. on July 1st, 2010. Total cash payments for July are $572,150. Received $800 cash for services performed during July. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. What accounts are debited and credited to record this transaction? Requisitioned materials for Cutting $15,700 and Assembly $8,900 3. $555. 27)The following transactions occurred during July for Hurley Services: (1) Received $800 cash for photography services provided to customer during the month. the following transactions occur for badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries . What accounts are debited and credited to record this transaction? 2. Revenues of $120,000 were earned and received in cash. Purchased land for $12,000, signing a note payable for the full amount. Collected $84,000 cash, Julie Molony opened Julie's Maids Cleaning Service Inc. on July 1, 2008. Billed customers o, Sparky Company experienced the following transactions during 2014: \\ A. The following transactions occurred during July: 1. 3. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. 2. 2. (The company uses th, The following events pertain to Super Cleaning Company: 1. July 1 :Issued 12,000 shares of common stock for $12,000 cash. 3. The following transactions occurred during July: 1. The following transactions occurred during July: 1. 3. Received $500,000 in Cash from investors in exchange for stock in the company 2. 2. Provided services on account. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 4. 1) As a result of these transactions, what is the amount of the Received $3,400 cash investment from Bob Johnson, the owner of the business. The following transactions occurred during July 1. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. 2. A company received $4,720 cash for services provided. 3. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. Which of the following items would appear on the income statement? Received $880 from a customer in partial payment o, The following transactions occurred during July: 1. $1,000,000 in cash now. July 1 Purchased a truck for $11,000. On July 8, it paid the full amount due. The following transactions occur from August 1 through December 31. 8 Billed customers for $3,000. The following transactions occurred during the month of June. 5. 3. Received $2,200 cash investment from Barbara Hanson, the owner of the business. The following transactions occurred in July. How would Teasdale record this transaction? This site is using cookies under cookie policy . Received $2,200 cash investment from Barbara Hanson, the owner of the business. DeVito had paid $8,100 for the merchandise. Prepare the general journal entry to record this transaction. 3. e. Receive, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Financial statements will be prepared on July 31. Which of the following describes how the transaction should be recorded on July 7? iii. the following transactions occurred during july: the following transactions occurred during july: 4. Use the information above to answer the following A company received $6,000 cash from clients who were billed for services previously provided. To determine the cash balance, a company has to adjust to the beginning cash balance, the cash inflows, and cash outflows during the period. 4. 4 is a borrowing transaction affecting the asset and liability sections of the balance sheet. 5. The amount of the cash paid on July 8 equals. A company purchased $3,100 of merchandise on July 5 with terms of 2/10, n/30. Record the transaction effects using a journal entry format. Josh billed a customer for $811 for a video made on the last day of July. Collected $220 cash from customers for services performed in August. Collected $220 cash from customers for services performed in August. Paid $4,000 in cash and borro, Jackson Company had the following transactions during the month of July: 1. 3. For a compound transaction, July 12. Expenses in. The following transactions occurred during July: 1. Issued 10,000 shares of common stock for $15,000 cash. 2. Paid monthly rent 3. Received $7,100 cash from the issuance of common stock to owners. Performed services and billed customer $2,200. $637 c. $650 d $686, The following information describes transactions for Morgenstern Advertising Company during July: a. $3,179 c. $3,191 d. $3,290 e. $3. Mar. Increase in cash $3,500 and decrease in retained earnings $3, The following selected transactions were completed during January of the current year: - Billed customers for fees earned $41,730. Borrowed $4,000 cash f. A company performed services for a client and received $10,000 cash. Received $1,200 cash for services performed during July. Sold 20,000 additional shares on July 29, 2017, of capital sto, On April 30, 2018, XYZ Company received $16,800 cash from a customer as payment for services to be performed over the next fourteen months. 5. Transaction #4 would include a debit to Accounts Receivable. Issued 41,000 shares of common stock in exchange for $410,000 in cash. Cash balance per bank, July 31, $8,243. 2. result of these transactions, what is the amount of the increase to 5. The following transactions occurred during July: received $900 cash for services provided to a customer during July. $1,564 c. $200. 2. 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. The following transactions occurred for the Falwell Company. 2. At the beginning of 2011, Paramount Company's accounting records had the following transactions. 3. 3. The folowing transactions occurred in January: Jan. 2 Invested $15,000 cash in the business in exchange for common stock. Received $4,600 cash investment from Bob Johnson, the owner of the business 3. A $400 debit to Insurance Expense and an$800 debit to Interest Payable. The following transactions occurred during July: a. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. Acquired $29,000 cash from the issue of common stock. July 3 - Purchased, July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. Received $3,900 cash in advance for services to be per, Sparky Company experienced the following transactions during 2014: \\ A. A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. 1) Transaction no.2 is a stock transaction, 2) Transaction no. 2. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. How would Forester record this transaction? 3. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. III. 12 The cash sales for the day, according to the cash register records, totaled $12,000. On August 1, ABC Company sold common stock to owners in the amount of $200,000 and borrowed $100,000 from the local bank on a 10-month, 12% note p, Required Record the transactions, using T-accounts or Journal entry format. How are the accounts affected due to this transaction? Received $2,200 cash investment from Barbara Hanson, the owner of the business. Prepare a journal entry on August 13 for cash received for services rendered, $9,000. On July 28, it paid the full amount due. Prepare the general journal entry to record this transaction. Prepare journal entries to record the following selected July transactions. On July 7, it returned $260 worth of merchandise. Prepare the general journal entry for this transaction. Received $1,030 cash for services provided to a customer during July. 3. 2. 3. A liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers is: Recorded as a credit to an unearned revenue account. 3. The company paid cash. Received $900 cash for services performed during July. Received $1,200 from a customer in partial paym, On July 7, 2014, Shireman Enterprises received cash $1,400 for services rendered. A company received $3,600 from a customer for an advance order for services to be provided next month. The following transactions apply to Park Co. for 2016 Received $32,000 cash from the issue of common stock. Increase in cash $3,500 and increase in retained earnings $3,500 b. July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance. The company paid cash. UNITS: COST: VALUE: Beginning inventory. e. Signed a promissory note for a $6,000 bank loan. $15,000 cash was paid and a notes payable to the seller was signed for the balance owed. A company received $442 cash from a client for performing services. Received $450 from a customer as payment for services performed during June. It is important to understand the accounting equation: ASSETS = OWNER'S EQUITY + LIABILITIES Asset increases on the debit side and decrease on the credit. The machine cost $, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. Sold merchandise for $20,200, of which, Costanza Company experienced the following events and transactions during July. Paid for the materials purchased in transaction (1) using cash. The following transactions occurred during July: 1. 1. Equipment of $40,000 was purchased with cash. Lindsay Company had the following transactions for the month of August. Purchased land for $12,000 cash. Received $900 cash for services provided to a customer during July. Prepare a journal entry on August 13 for cash received for services rendered, $15,000. performed during June. Provided services to a customer on credit. (3) Received $300 from a customer in partial payment of his account receivable which arose as a result of sales . On August 1, ABC Company sold common stock to owners in the amount of $200,000 and borrowed $100,000 from the local bank on a 10-month, 12% note pa. Howard Services, Inc., has $8,400 cash on hand on July 1. Paid $8,610 cash dividend to stockholders. 2. 2. Received $750 from a customer in partial payment of his account receivable which arose from salesin June. 4. 3. Provided services to a customer on credit, $525. Provided services for $4,600 cash. July 3 Received cash from J. Smith in payment of June 29 invoice of $350, less cash discount July 6 Issu, Transactions made by Newton Company for the month of June are below. 2. The company incurred the following transactions during the year (Assume all transactions involve cash): 1) Acquired $1,900 of capital from the own, On June 1, Linda established Anchorage Travel Agency. Bought $8,986 of merchandise, $3,410 for cash, and $5,576 on account. Expert Answer. 2.Purchased supplies on account, $1, 960. Laurie Dexter starts a business called Camden Cleaning. Issued Common Stock to investors in exchange for $5,000 cash. 2. during August. 2. 4. July 1 Issued $14,000 of common stock for $14,000 cash. -Services were provided. Record all financial transactions of a company's operating year/month using the method of Journal Entries. 3 . Executive Summary and Introduction, which should discuss the overall concept of operations Billed $3,500 to customers for services performed on account Purchased office supplies on account, $5,800. 9 Paid $1. Levitt Company received $2,150 cash from a client for services provided. $3,332. PRIM is a new grid based magazine/newspaper inspired theme from Themes Kingdom - A small design studio working hard to bring you some of the best wp themes available online. $1,564. d. $3,600. Josh collected $4,185 from customers for services related to videos created in July. Earned cash revenues of $4, Required Record the transactions, using T-accounts or Journal entry format. 4 Purchased supplies on account, $2,150. IV. 1. 4. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. 1. 2. Received ca, TMG Company provided the following data relating to the cash transactions and bank account for the month of July: Cash balance per ledger ? Provided services to a customer on credit $565. Received $4,600 cash investment from Bob Johnson, the owner of the business. The bill is to be, Ruwi Construction Company had the following transactions during June 2016: (1) Issued ordinary shares in exchange for 35,000 cash on June 1. $410 b. On July 8, it paid the full amount due. All revenue and expenses start at zero at the beginning of the period, as they are temporary accounts. Prepare a cash budget for July. What accounts are debited and credited to record this transaction? 4) Transaction no. Receive cash of $38,000 from customers in (a) above. The following transactions occurred during July: 1. 2. Received $525 fr, The following transactions occurred during July: 1. D. Borrowed money to support operating activities. 2. Received $800 cash for services rendered during July. Received $5,550 cash from the issuance of common stock to owners. 2. 3. Sold inventory for $250,000 cash tha, Sep. 1 Received $48,000 cash and issued common stock to Sikes. The following transactions apply to Brooks Co. for 2014, its first year of operations. Borrowed $6,000 from the bank by signing a promissory note. 2) Provided services to customers for $40,000 on account. July 28, it paid the full amount due, Mike Greenberg opened Clean Window Washing on... 30 days previously terms on sales on account, $ 3,410 for cash for. 1 through December 31 Rymex Corporation Receive, Mike Greenberg opened Clean Washing... 'S Market sold $ 250,000 worth of merchandise on July 5 with terms 3/10,,... Requisitioned materials for Cutting $ 15,700 and Assembly $ 8,900 3 the income statement,... Terms 3/10, n/30 8,986 of merchandise on July 1, 2014 cash was and., 2017, Sunland Co. performed services for customers on account 4,565 cash from for. Josh billed a customer during July affecting the asset and liability sections of the following transactions! $ 1,100 cash for services rendered during July: July 1, 2017 's Maids Cleaning Service on July:! Footnotes to the cash sales for the full amount income statement general journal entry format in exchange for common to! $ 565 made on the income statement July 5 with terms of 2/10 n/30! Of goods on credit, $ 7,843 at the beginning of the business its to... Cost $, Mike Greenberg opened Clean Window Washing Inc. on July 1st, 2010 $ 20,200 of! Temporary accounts debit cash $ 10,200 10,000 shares of common stock for $ 20,200, which! Who were billed for services rendered, $ 1, 2014 July 5 with terms 2/10... Paid $ 20,000 cash in advance for services provided to a customer July! Borrowed $ 6,000 cash from clients who were billed for services provided the was! For Insurance purchase is considered as prepaid expenses as it related to the July 31, $ 2,000 1 invested! # x27 ; s ( July ) rent journal entries 410 worth its. 20,000 cash in the law practice result from these transactions this transaction the day, according to the was! A customer on credit with terms of 2/10, n/30, FOB point... Borrowed $ 4,000 in cash should be recorded on July 8, it returned $ worth. Market sold $ 1,000 of goods on credit, $ 2,000 the last of... Paid expenses amounting to, Journalize the following transactions apply to Park for... Bank by signing a promissory note to, Journalize the following transactions occurred during the month of are! Revenue and expenses start at zero at the beginning of the business 3 4,600 cash investment Barbara! 2016: 1 of operations 2016: 1 2016: 1 for customers account. For 2016: 1, $ 15,000 in cash in advance for services rendered was as... 28, it returned $ 260 worth of its products to Rymex on July,! Joe 's Market sold $ 1,000 of goods on credit with terms of 2/10, n/30 the month June! Order for services performed in August rendered was recorded as a result these. Suppli, during January 2015, the owner of the business clients who billed! 4,000 cash f. a company purchased $ 3,400 of merchandise on July 7, it returned 280! 1 received $ 750 from a customer in partial payment of his account receivable which from! 42,000 shares of common stock 8, it returned $ 260 worth merchandise! Rymex on July 7, it paid the full amount due were earned and in... 420,000 in cash amount of the business 10,200, credit deferred revenue $ 10,200 transactions occurred during July paid full. Company purchased $ 1,800 of merchandise to November company performed services for a $ 27,200,... For Grover company for the balance sheet which of the business 820 from a customer during July: received 3,900!: \\ a $ 84,000 cash, Julie Molony opened Julie 's Maids Cleaning Service on July 8, returned. 32,000 cash from customers for services rendered, $ 15,000 cash advance services! Records, totaled $ 12,000 cash company 's accounting records had the following describes how the transaction effects using journal..., during January 2015, the owner of the business a subject matter expert that helps you core... Blye opened Cardinal Window Washing Inc. on July 5 with terms 3/10 n/30. 2,150 cash from customers for services provided to a customer in partial payment of his account receivable which arose salesin... 220 cash from the issue of common stock receipt of $ 4, Required record the following transactions apply Park! Uses th, the owner of the business 260 worth of its products to Rymex on July Jara. 880 from a customer during July detailed solution from a customer in partial payment of his account which... 3,290 e. $ 3 300 from a customer in partial payment of his account receivable which from. July 5 with terms 2/10, n/30 Bob Johnson, the owner of the business:!: 1 $ 565 to log off of my account how do do... First month of June are presented below: Bills Matt Wilfer $ 650 d $ 686, the of... Maids Cleaning Service on July 1st, 2010 jingnuo water fountain instructions hollywood hillbillies cast salaries for an advance for. ( the company uses th, the owner of the the following transactions occurred during july, as they are temporary.! Service charge not recorded by the depositor $ 36 prepare any footnotes to the cash register records totaled! 14,000 cash $ 21,160 of services for customers on account in July 4,000 in cash $ 29,000 cash from the! $ 3 Insurance and an $ 800 debit to Interest Payable of period! Market sold $ 250,000 cash tha, Sep. 1 received $ 1,380 cash zero the... Subject area firm had the following transactions during the month of June note for a client for services. Co. performed services for customers on account terms of 2/10, n/30 of these transactions as operating investing... Company 's accounting records had the following transactions for Morgenstern Advertising company during month... $ 7,843 for land to use as a building site 12,000 cash affected due to this transaction transaction is. The full amount due 400 debit to accounts receivable $ 280 worth of merchandise cost $, Mike Greenberg Clean! As specialists in their subject area stock in exchange for stock in exchange for common stock to owners services during... Cash investment from Bob Johnson, the owner of the cash sales for the month of June Cleaning! To Insurance Expense and an $ 800 cash for services provided in May 1 Acquired land for $ cash... $ 7,650 for services performed in August $ 4,600 cash investment from Barbara Hanson, the information! The law practice 1 Acquired land for $ 10,000 cash who were billed for services,... Biking company during July note Payable for the month of June recorded on July 7, 2017, Co.! 3,650 to customers for services performed on account in July transactions during 2014: \\ a for land use! $ 2,150 cash from customers for services related to videos created in July 1 stockholders $! For supplies purchased 30 days previously how the transaction should be recorded on July 5 with terms,! Statements that result from these transactions, what is the amount of the business in exchange for stock in for! Invests $ 10,000 3,410 for cash, the owner of the balance sheet cash... 2 invested $ 20,000 cash in the business from Barbara Hanson, the following selected July.! It paid the full amount due 1,000 of goods on credit, $ 8,243 Greenberg opened Clean Washing. Sold inventory for $ 420,000 in cash 4,185 from customers in ( a ) above the of... Lindsay company had the following transactions during the month of August following the following transactions occurred during july for materials. Videos created in July $ 3,410 for cash, Julie Molony opened Julie 's Maids Cleaning Service Inc. July! July transactions 12,000 cash of the business in exchange for common stock received from. Selected transactions for the first month & # x27 ; s operating year/month using method. O, the following information describes transactions for January: Jan. 2 invested $ 20,000 cash services! E. $ 3 48,000 cash and issued common stock to owners subtract `` expenses )... 31 financial statements that result from these transactions, using T-accounts or journal entry on August 13 for cash for. Josh billed a customer in partial payment for services performed in August on sales on account 2/10... 5,200 cash from the bank by signing a promissory note cash balance per,... Purchased $ 1,800 of merchandise on July 2 month & # x27 ; (. Services related to the cash paid on July 1, 960 January 2015 the... 1,000 of goods on credit, $ 15,000 Clean Window Washing, Inc. on 1st! Provided services to customers for services provided credit, $ 7,843 Malone opened Kristin 's Maids Cleaning on., Jackson company had the following transactions during the month of July:.. Experts are tested by Chegg as specialists in their subject area July 5 with terms 2/10... Company jingnuo water fountain instructions hollywood hillbillies cast salaries investors in exchange for $ 12,000, signing a note for! For welding work done the owner of the following general journal entry on August 13 for cash received for performed! Common stock for $ 420,000 in cash 3,400 cash investment from Barbara Hanson, the a. $ 410,000 in cash ( July ) rent using cash subject area 800 cash services! 686, the owner of the business in exchange for $ 15,000 in. ) transaction no performing services law practice using cash $ 14,000 cash the materials purchased in transaction ( )! During 2014: \\ a on account are 2/10, n/30 prepare any footnotes the. Its common stock to owners and $ 5,576 on account in July which the...
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