Question

More Info 1 Trevor Moore opened a law office on January 1, 2024. During the first month of operation, the business completed IN (Click the icon to view the transactions) Read the requirements Requirement 1. Record each transaction in the journal, using the following account lifes Cash Account Receivable Payable: Moore, Capital, Moore, Withdrawals Service Revenue Salaries Expense Rent Expense, and Units Exped Jan. 1 Moore contributed 579,000 cash to the business, Trevor Moore, Attorney. The business gave capital to Moore Date Accounts Debit Credit Jan 1 Moore contributed 579.000 cash to the business, Trevor Moore, Atomey The Jan. 1 business gave capital to Moore Jan. 3 Purchased office supplies. $1.500, and furniture, 52200, on account Jan. 4 Performed legal services for a client and received $1,100 cash Purchased a building with a market value of $120,000, and land with a market value of $26.000 The business paid 550,000 cash and signed a note payable to Jan 7 the bank for the remaining amount Jan. 11 Prepared legal documents for a dient on account, 5500 Jan. 15 Paid assistants semily salary, 51,200 Jan. 16 Paid for the office supplies purchased on January 3 on account Jan. 18 Received 52.900 cash for helping a client sell real estate Jan. 19 Defended a dient in court and billed the client for $300 Jan. 25 Received for use $250 The bill will be paid next month Jan. 29 Received cash on account, 5400 Jan. 30 Paid $1,000 cash for a 12-month insurance policy starting on February 1

Answer 1

Journal Entries Date Account Title and Explaination Post. Ref. Debit $ Credit $ Jan. 1 $ 79,000.00 Cash Moore, Capital (To record Cash invested into business) $ 79,000.00 Jan.3 $ $ 1,500.00 2,200.00 Office Supplies Furniture Accounts Payable (To record office supplies and furniture purchased on account) $ 3,700.00 Jan.4 $ 1,100.00 Cash Service Revenue (To record cash received for services provided) $ 1,100.00 Jan.7 $ $ 120,000.00 26,000.00 Building Land Cash Notes Payable (To record Land and Building Purchased and cash paid partly and balance through Note Payable) AA 50,000.00 96,000.00

$ 500.00 Jan.11 Accounts Receivable Service Revenue (To record service preformed on account) $ 500.00 $ 1,200.00 Jan.15 Salaries Expense Cash (To record payment of Salaries Expense) $ 1,200.00 S 1,500.00 Jan. 16 Accounts Payable Cash (To record Payment of Payables) $ 1,500.00 $ 2,900.00 Jan. 18 Cash Accounts Receivable (To record collection of receivables) $ 2,900.00 $ 800.00 Jan. 19 Accounts Receivable Service Revenue (To record Service provided on account) $ 800.00 $ 250.00 Jan.25 Utilities Expense Utilities Payable (To record Utilities Expense) $ 250.00

$ 800.00 Jan. 19 Accounts Receivable Service Revenue (To record Service provided on account) $ 800.00 $ 250.00 Jan.25 Utilities Expense Utilities Payable (To record Utilities Expense ) $ 250.00 $ 400.00 Jan.29 Cash Accounts Receivable (To record collection of receivables) $ 400.00 $ 1,080.00 $ 1,080.00 Jan.30 Prepaid Insurance Cash (To record cash paid for 12 months insurance policy premium)