Question

i need help with journal entries

M Completed by Apple Realty during November Purchased office supplies on account, $2,100. 2 Paid rent on office for month, $4,000. 3 Received cash from clients on account, $44,600. 5 Paid annual insurance premiums, $5,700. 9 Returned a portion of the office supplies purchased on November 1, receiving full credit for their cost, $400. 17 Paid advertising expense, $5,500. 23 Paid creditors on account, $4,950. 29 Paid miscellaneous expenses, $500. 30 Paid automobile expense (including rental charges for an automobile), $1,500. 30 Discovered an error in computing a commission; received cash from the salesper- son for the overpayment, $1,000. 30 Paid salaries and commissions for the month, $27,800. 30 Recorded revenue earned and billed to clients during the month, $83,000. 30 Purchased land for a future building site for $75,000, paying $10,000 in cash and giving a note payable for the remainder. 30 Paid dividends, $5,000. 30 Rented land purchased on November 30 to a local university for use as a parking lot for athletic events; received advance payment of $3,600.

Answer 1

Answer Debit Credit 2100 Date Accounts Titles & Explanation 1-Nov Office supplies Accounts payable (To record purchase of office supplies on account) 2100 4000 2-Nov Rent Expense Cash (To record office rent paid) 4000 44600 3-Nov Cash Accounts receivable (To record receipt from customer) 44600 5700 5-Nov Insurance premium Cash (To record insurance premium paid) 57001 400 9-Nov Accounts payable Office supplies (To record returns on office supplies) 400

5500 17-Nov Advertisement Expense Cash (To record advertising expense paid) 5500 4950 23-Nov Accounts payable Cash (To record cash paid to creditors) 4950 500 29-Nov Miscellaneous expense Cash (To record miscellaneous expense paid) 500 1500 30-Nov Automobile expense Cash (To paid automobile expense paid) 1500 1000 30-Nov Cash Salary and commission expense (To record receipt of cash on account of overpayment) 1000 27800 30-Nov Salary and commission expense Cash (To record payment of salary and commission) 27800

83000 30-Nov Accounts Recievable Fees Earned (To record fees earned on account) 83000 75000 30-Nov Land Cash Notes Payable (To record purchase of land by cash and notes) 10000 65000 5000 30-Nov Dividend Cash (To record divident paid) 5000 3600 30-Nov Cash Unearned Rent (To record advance payment of rent) 3600