1. Please provide general journal entries for each of these transactions in the space provided...

70.2K

Verified Solution

Question

Accounting

image

1. Please provide general journal entries for each of these transactions in the space provided after the transaction descriptions. a. Purchased equipment on account for $6,000.1 b.Sales for the month were $50,000, $40,000 collected in cash and $10,000 in accounts receivable. C. Depreciation expense for the month was $1,000.1 d. Paid monthly rent for $500 in cash. e. Purchased supplies for $1,200 in cash. f. Month-end inventory shows $100 in supplies left after the first month in business-see (e) above, and adjust the supplies account. g. Employee wages for the month were $3,000, $2,000 paid in cash and $1,000 wages payable. h. Invested $10,000 cash in a sole proprietorship. i Owner withdrew $1,500 from the sole proprietorship for personal living expenses. j- Unearned revenue account has a $200 balance at the end of the month. You discover that the services have been performed to earn all $200-adjust the unearned revenue account accordingly. Put general journal entries below on this or the following page: T

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students