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Journalize the following transactions in general journal form for the month of June 20XX. Identify each...

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Accounting

Journalize the following transactions in general journal formfor the month of June 20XX. Identify each transaction by date. Youmay omit explanations of the transactions. Put journal entries inproper form.

June 1?Mike Cline invested $35,000 cash in his business.

June 2?Purchased $400 of office supplies on account.

June 4?Purchased office equipment for $6,000, paid $2,000 incash and signed a 30-day note for the remainder.

June 6?Real estate commissions billed to clients in the amountof $4,000.

June 9?Paid $700 in cash for current month’s rent.

June 19?Paid $200 of amount owed for the office suppliespurchased on June 2.

June 23?Received a bill for $600 advertising for the currentmonth.

June 25?Paid $2,200 cash for office salaries.

June 29?Mr. Cline withdrew $1,200 cash for personal use.

June 30?Received a check for $3,000 from a client in payment ofcommissions billed on June 6.

General Journal

Page 1

Date

Description

Debit

Credit

Answer & Explanation Solved by verified expert
4.4 Ratings (781 Votes)

Answer: Journal ENtries

Date Description Debit Credit
01-Jun Cash $35,000
   Owner's Capital, Mike $35,000
(Capital invested)
02-Jun Office Supplies $400
   Accounts Payable $400
(Supplies on account)
04-Jun Office Equipment $6,000
   Cash $2,000
   Notes Payable $4,000
(Equipment purchased)
06-Jun Accounts receivables $4,000
   Service Revenue $4,000
(revenue earned)
09-Jun Rent Expense $700
   Cash $700
(Expenses paid)
19-Jun Accounts Payable $200
    Cash $200
(Cash paid)
23-Jun Advertising expense $600
   Accounts Payable [Advertising payable] $600
(Expenses incurred but not paid)
25-Jun Salaries expense $2,200
   Cash $2,200
(Salaries paid)
29-Jun Owner's Drawings, Mike $1,200
   Cash $1,200
(Cash withdrawn)
30-Jun Cash $3,000
   Accounts receivables $3,000
(Cash received from clients earlier billed)

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