May Date May-01 Collected $1900cash from customer accounts receivable May-02 Purchased supplies on account that cost...
May
| Date | |
| May-01 | Collected $1900cash from customer accounts receivable |
| May-02 | Purchased supplies on account that cost $360 |
| May-07 | Recorded services of catering to customers and cash receipts were $610 and invoices for services on account were $1800 |
| May-08 | The catering job was completed that was paid for in advance on April 9 |
| May-10 | Paid the utility company for the monthly utility bills that had been received in the previous month, $340 |
| May-15 | Paid $1800 cash for employee salaries |
| May-15 | Purchased a one-year insurance policy for $1200 on the refrigerator |
| May-16 | Paid $220 on the account payable that was established when supplies were purchased on May 2. |
| May-20 | Paid a $400cash dividend to the stockholders |
| May-27 |
Received monthly utility bills amounting to $360. The bills would be paid in the month of June |
| May-31 |
Recorded revenues to customers. Cash receipts were $900, and invoices for sales on account were $1400 |
| May-31 | Paid $1800 cash for employee salaries |
1. Record transactions for May in general journal.
2. Open general ledger accounts using T-accounts and post general journal entries to the ledger.
June
| Date | |
| June-01 | Collected $ 1500 cash from customer accounts receivable |
| June-02 | Purchased supplies on account that cost $ 300 |
| June-07 | Recorded services of catering to customers and cash receipts were $ 500 and invoices for services on account were $ 1500. |
| June-08 |
Received $ 450 cash as an advance payment on May 10 from a client to be served in June and completed the job on June 8. |
| June-10 | Paid the utility company for the monthly utility bills that had been received in the previous month, $ 360 |
| June-15 | Paid $ 1800 cash for employee salaries |
| June-15 | Purchased a one-year insurance policy for $ 1000 on the microwave |
| June-16 | Paid $ 150 on the account payable that was established when supplies were purchased on June 2. |
| June-20 | Paid a $ 300 cash dividend to the stockholders |
| June-27 | Received monthly utility bills amounting to $ 350. The bills would be paid in the month of July |
| June-31 | Recorded revenues to customers. Cash receipts were $ 800, and invoices for sales on account were $ 1350 |
| June-31 | Paid $ 1800 cash for employee salaries |
1. Record transactions for June in general journal.
2. Post the transactions into T-accounts created for the month of May.
Homework Answers
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May
Date
May-01
Collected $1900cash from customer accounts receivable
May-02
Purchased supplies on account that cost...
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