Question

5. Harper Sales Consultants completed the following transactions during the latter part of January 2 (Click the icon to view the transactions.) Journalize the transactions of Harper Sales Consultants. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 22: Performed services for customers on account, $7,500. Date Accounts and Explanation Debit Credit Jan. 22 (1) Jan. 30: Received cash on account from customers, $8,000. Date Accounts and Explanation Debit Credit Jan. 30 (10) Jan. 31: Received a utility bill, $220, which will be paid during February Date Accounts and Explanation Debit Credit Jan. 31 (11) (12) (13) (14) (15)

Answer 1

Perfa med Servies for ustomers on Account $1500 $ 7500 Jan. 22 da Account Customer 's $7500 Sales Accounl to beng seavice rendered to customei tor $ 1500) Reieved cas h om Acuounl rom customes, $8000 $8000 Jan 20 Auonl di Cash $6000 to customer's Account their dues ) for settlement (beng corh ko ieved Kom utomer's Resteved a utlity liu $ 220, which will le paid during Felauary. d220 $2.20. Jan 31 Account da Uti aty expense to utility outstandıng Akiount C eapense bor Jhe q Januay dount paid in Jamuary 6 shies expente nayalte tuald as lability in balanieiheet taamfered to Oyenie Monthly Salay to Sales man $ 2500 Account der Jan 31 Pad Salary. 4 2500 AcLount $2500. to Carh (beng carh pad to caley man, beated as Ralary epenie so debil, Cora Account dece ared o uidit) Reieved $2210 fa thuee monts gconsultng service. slanting betruary Jan 31 $2310 Bank Account d1540 $ 770 (2310x 2/3) (a30 * 2/3) Account to reuved m Sales Advance Account servie Redndued bor 3 months , tiaut 2 monith lalls m Uthes tnamual next tranual year- o Sales in uhy frranial · Lalane 770 Reievid as 2310 x 2/3 - 1540 and 1 monia year Amount Reu'eved as adum le )
It is assumed that the dividend paid in between the financial year, that's why which was paid from retained earnings
Jan 31 Careh olindends9 $ 950 were rai d to stock holders Account deu 4950 Ar count Reserve $ 950 hay alte o dividen (beng dividenl payalte for the peuod XX- XX- Xx ) Account di $95o $950 Dividend payabte Auount Cath to Carta) dividen pai d m
s .