Question

eneral Journal Entries (30 points) 2. Gen al journal entries to record these transactions. Larry Matt completed these during December of the current year: are general jou sactions during Dec Regan a financial services practice by investing $15,000 cash and office equipment having a $5,000 value. Purchased $1,200 of office equipment on credit Purchased $300 of office supplies on credit Completed work for a client and immediately received a payment of $900 cash Completed work for Precept Paper Co. on credit, $1,700. Paid for the supplies purchased on credit on December 3. Paid for the annual $960 premium on an insurance policy. Received payment in full from Precept Paper Co. for the work completed on December 8. Larry withdrew $650 cash from the practice to pay personal expenses. Paid $175 cash for the December utility bills. 30 Received $2,000 from a client for financial services to be rendered next yer P.R. Debit Date Account Titles and Explanation

Answer 1

Date	Account Name	Debit	Credit
12/01	Cash	$ 15,000.00
	Equipment	$   5,000.00
	Comm Stock		$ 20,000.00
12/02	Equipment	$ 1,200.00
	Accounts Payable		$ 1,200.00
12/03	Office Supplies	$    300.00
	Accounts Payable		$    300.00
12/04	Cash	$    900.00
	Revenue		$    900.00
12/08	Accounts Receivable	$ 1,700.00
	Revenue		$ 1,700.00
12/10	Accounts Payable	$    300.00
	Cash		$    300.00
12/14	Insurance Expense	$    960.00
	Cash		$    960.00
12/18	Cash	$ 1,700.00
	Accounts Receivable		$ 1,700.00
12/27	Dividends	$    650.00
	Cash		$    650.00
12/30	Utility Expense	$    175.00
	Unearned Revenue	$ 2,000.00
	Cash		$ 2,175.00

Thanks