Question

Line Tonowing into Liori appies w me quesuons urspidyeu velow. The general ledger of Jackrabbit Rentals at January 1, 2021, Includes the following account balances: Credits Debits $ 41,500 25,700 110,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,300 30,000 100,000 32,700 $178,000 $178,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $62,400. 2. February 25 Provide services to customers for cash, $75,300. 3. March 19 Collect on accounts receivable, $45,700. 4. April 30 Issue shares of common stock in exchange for $30,000 cash. 5. June 16 Purchase supplies on account, $12,180. 6. July 7 Pay on accounts payable, $11,300. 7. September 30 Pay salaries for employee work in the current year, $64,200. 8. November 22 Pay advertising for the current year, $22,500. 9. December 30 Pay $2,900 cash dividends to stockholders. The following information is available for the adjusting entries Accrued interest on the notes payable at year-end amounted to $2,500 and will be paid January 1, 2022 Accrued salaries at year-end amounted to $1,500 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,300. 2. Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, s "No Journal Entry Required" in the first account field.) View transaction ist Journal entry worksheet 2 3 4

Answer 1

Please refer below handwritten notes

] Date 12/1/2021 DATE General Journal Particulars Debit ($) Accounts Receivable Ale 62,400 TO Service Revenue (Being services provided on accound credit (9) DY 62,400 25/2. 75,300 cash All TO service Revenue 75,300 (Being services provided for cash] 1912 45,700 Cash Al DY TO Accounts Receivable 45,700 (being cash collected from A/R] 3014 30,000 30,000 Cash All TO common stock Cissue of common stock for cash DY 16/6 12,100 Supplies Afc 12,100 "To Accounts Payable (Being supplies purchased on accoud] Accounts Payable Ak Dr 11,300 11,300 TO Cash (Being cash paid to Alp] Dr 64,200 30/9 64,200 salaries All TO cash (Being Salaries for CY paid] Dy 22.500 2011 22,500 Advertising Expenses All TO Cash Alc (Being advertising for cY paid] 2020-9-16 09:07 PAGE