Question

Calibri 11 - BIV A. A JULY TRANSACTIONS Prepare and post journal entries to record the July transactions. During July, Bob Lutz completed these transactions for Lutz Repair Service: July 1st Paid the monthly rent, $1,700. I July 1. made the monthly payment to Bilbao Company. $1,200. July 6. Purchased additional repair supplies for the first half of the month, $3,452 acer c

Answer 1

July 1 Rent a/c......................Dr 1700

To Cash 1700

(Paid rent)

Bilbabo Co................Dr 1200

To Cash 1200

(Paid monthly payment)

July 6 Purchases.................Dr 3452

To Cash 3452

( Purchased additional repair supplies)

July 15 Cash a/c....................Dr 3656

To Services 3656

( Receved cash for rendering services)

July 20 Advertisement a/c..Dr 240

To Cash 240

(Paid cash for advertisement)

July 23 Rusin Co..............Dr 2400

To Bank 2400

Paid Rusin co)

July 30 Cash a/c......................Dr 3268

To Services 3268

(Received cash for services)

Drawings a/c ...............Dr 1200

to Capital 1200

(Withdrawals by owner)