Question

Journal Entries After a successful first month of operation jack Saunders. incurred the following transactions in the month of November and December 2019 for Saunders Trucking Norl Entered into a Contact with a client for three months of delivery Services beginning November 1. The client paid $6,000 for all three months today. Nov 5. Received $300 from a client for Services billed last month. Nors Performed delivery Services and billed a client $5000. Novis. Paid the moothly telephone bill $650. Nor 18. Paid the monthly utility bill $260. Nor 23. paid for the packing Supplies Purchased last month $1600 Nov 30 paid the assistant & Salary $ 1900. Dec 4. Received $1.500 from a dient on account to lis. Purchased Packing Supplies on account, $3,200. 22. Received $2,600 Cash from a client for delivery services. 31. Paid for the monthly telephone and utility bill $200 and $340 respectively!

Answer 1

Ans:

Date	Account Title and Explanation	Debit	Credit
Nov. 1	Cash	$6,000
	Unearned Service Revenue		$6,000
	To record advance for services received
Nov. 5	Cash	$300
	Accounts receivable		$300
	To record cash collected on account
Nov. 6	Accounts Receivable	$5,000
	Service Revenue		$5,000
	To record service revenue earned
Nov. 15	Telephone Expense	$650
	Cash		$650
	To record telephone expenses paid
Nov. 18	Utilities Expense	$260
	Cash		$260
	To record utility expenses paid
Nov. 23	Accounts Payable	$1,600
	Cash		$1,600
	To record cash paid on account
Nov. 30	Salaries Expense	$1,900
	Cash		$1,900
	To record salary for the assistance paid
Dec 4	Cash	$1,500
	Accounts Receivable		$1,500
	To record cash received on account
Dec 15	Supplies	$3,200
	Accounts Payable		$3,200
	To record supplies purchased on account
Dec 22	Cash	$2,600
	Service Revenue		$2,600
	To record service revenue earned
Dec 31	Telephone Expense	$200
	Cash		$200
	To record telephone expenses paid
Dec 31	Utilities Expense	$340
	Cash		$340
	To record utility expenses paid