Question

NEED HELP WITH THE JOURNAL ENTRIES

Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital, owned by R. Mead, a veterinarian Cash Accounts Receivable: Supplies: Office Equipment: Accounts Payable: Common Stock Dividends: Professional Fees Earned; Salaries Expense; and Rent Expense. Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T- accounts and key all entries with the number identifying the transaction. Finally, determine the balance in each account and prepare a trial balance as of December 31. Dec 1 Mead opened a checking account on December 1 at United Bank, in the name of Mead Pet Hospital and deposited cash Mead received common stock for investment 2 Paid office rent for December 3 Purchased office equipment on account 3,200 4 Purchased supplies for cash 2.000 5 Billed clients for services rendered 6 Pald secretary's salary 2250 7 Paid on account for equipment purchased on Dec 3 8 Collected from clients previously bled for services 6.100 9 The company paid stockholders a cash dividend, 2.500 1400 Accounting Template Journal Entries Accounts Trial Balance

Answer 1

General Journal
Ref.	Description	Debit	Credit
1	Cash	23000
	Common stock		23000
	To record issuance of common stock.
2	Rent expense	1400
	Cash		1400
	To record payment of rent expense.
3	Office equipment	3200
	Accounts payable		3200
	To record purchase of office equipment on account.
4	Supplies	2000
	Cash		2000
	To record purchase of supplies.
5	Accounts receivable	7600
	Service fees earned		7600
	To record professional fees billing.
6	Salaries expense	2250
	Cash		2250
	To record payment of salaries expense.
7	Accounts payable	1800
	Cash		1800
	To record payment on office equipment.
8	Cash	6100
	Accounts receivable		6100
	To record receipt of cash from customers.
9	Dividends	2500
	Cash		2500
	To record cash payment of dividends.