Question

The following transactions occurred for Webster Technology Solutions: (Click the icon to view the transactions.) Read the requirement. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 1: The business received cash of $80,000 and issued common stock to Jason Webster Date Accounts and Explanation Debit Credit May 1 Cash

Answer 1

General journal- Webster technology
Date	Account titles & Explanations	Debit	Credit
1-May	Cash	$80,000.00
	Common Stock		$80,000.00
	To Record issuance of Common Sstock
2-May	Office Supplies	$560.00
	Accounts Payable		$560.00
	TO Record Supplies Purchased
4-May	Building	$49,000.00
	Land	$12,000.00
	Cash		$61,000.00
	To Record Purchase of Land & Building
6-May	Cash	$2,000.00
	Service Revenue		$2,000.00
	To Record Service Revenue Received
9-May	Accounts Payable	$460.00
	Cash		$460.00
	To Record amount paid agst AP
17-May	Accounts Receivable	$3,500.00
	Service Revenue		$3,500.00
	To Record Sevice Revenue Received on Account
19-May	Rent Expense	$1,500.00
	Cash		$1,500.00
	TO Record Rent Expense
20-May	Cash	$2,100.00
	Unearned Revenue		$2,100.00
	Te Record advance amount received agst revenue
21-May	Prepaid Advertising	$500.00
	Cash		$500.00
	To Record prepaid Advertising Expense made
23-May	Cash	$2,700.00
	Accounts Receivable		$2,700.00
	To Record amount received agst AR
31-May	Salaries Expense	$1,400.00
	Cash		$1,400.00
	TO Record Salaries Expense made

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