50.1K

Verified Solution

Link Copied!

Record 5 adjusting entries in the general journal and post them to the ledger accounts and include narrations and dates. Then prepare the adjusted trial balance.

Date	Account and explanations	Debits	Credits
August 2	Rent expense Cash (rent paid)	2200	2200
August 4	Advertising expense Advertising payable (advertising accrued)	380	380
August 5	Equipment Cash (purchased equipment)	120	120
August 7	Supplies Cash (purchased supplies)	350	350
August 8	Cash Sales of supplies (supplies sold)	280	280
August 12	Utility bills Cash (paid water bill)	180	180
August 12	Utility bills Cash (paid electricity bill)	160	160
August 14	Bank loan payment Bank loan amount to be repaid (incurred for bank loan)	1050	1050
August 16	Furniture Cash (purchased a new chair)	400	400
August 17	Advertising expenses Cash (advertising repaid)	380	380
August 19	Internet expense Cash (paid internet bill)	90	90
August 21	Cash Sale of supplies (sale of supplies)	200	200
August 23	Insurance expense Cash (insurance paid)	110	110
August 24	Cleaning expense Cash (paid cleaner)	110	110
August 27	Bank loan repayment Cash (a repayment for the bank loan)	1100	1100
August 28	Utility expense Cash (gas bill)	35	35
August 30	Salary expense Cash (paid the trainee)	400	400
August 30	Equipment Cash (bought a new tv)	600	600
August 30	Salary expense Cash (paid salaries)	6000	6000
August 30	Cash Service revenue (received services revenue)	14000	14000

Answer & Explanation Solved by verified expert

See Answer