Question

Arthur Industries entered into the following transactions during the month of June. A Purchased supplies for $5,200 cash. B. Paid $4.480 for salaries and wages for the month of June. C. Paid $560 in advance for July rent. D. Provided $12,200 in services on account E Paid $500 on accounts payable. F. Received $190 from customers as deposits for future services. G. Received a bill for $470 from the plumber who repaired a broken pipe in the restrooms, but will not pay the bill until July H. Purchased equipment for cash of $840. For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet

Answer 1

No Transaction Credit Debit 5,200 A $ General Journal Supplies Cash (Being supplies purchased for cash recorded) $ 5,200 B. $ 4,480 Salaries and wages Expense Cash (Being salaries and wages expenses paid recorded) $ 4,480 с $ 560 Prepaid Rent Cash (Being Rent paid in advance recorded) $ 560 D $ 12.200 Accounts Receiavbles Service Revenue (Being services provided on account recorded) $ 12.200 Ε $ 500 Accounts payable Cash (Being paid accounts payable recorded) $ 500

F $ 190 Cash Unearned Service Revenue (Being Unearned service revenue recorded) $ 190 $ 470 Repair Expense Accounts payable (Being repair exppenses recorded) $ 470 H $ 840 Equipment Cash (Being equipment purchased recorded) $ 840