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  3. journal entries 1. a payment by cheque for $440 t

journal entries 1. A payment by cheque for $440 to a repair shop for...

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Accounting

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journal entries

1. A payment by cheque for $440 to a repair shop for fixing the truck was debited to the Vehicles account and credited to Cash. 2. A deposit for a collection on account of $ 1,050 was debited to Cash and credited to Service Revenue. 3. A cheque for $470 to pay for advertising expense was recorded as a debit to Rent Expense and a credit to Cash. 4. An invoice to a customer recorded for services rendered in the amount $ 620 was debited to Service Revenue and credited to Accounts Receivable. 5. A payment of interest on a note payable in the amount of $ 60 was debited to Notes Payable and credited to cash. No amount had been accrued for this interest. 6. A payment to a supplier, for an earlier purchase on account of $ 180, was recorded as a debit to Accounts Payable for $ 18 and a credit to Cash for $ 18. 7. An additional investment of cash of $ 4,000, from the owner H. Grant was recorded as a debit to Cash and a credit to H. Grant, Drawings

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