Question

Journalise transactions. (LO 2) Analyze transactions and journalize. (LO 1,2) E2-5 Transaction data for Sanculi Real Estate Agency are presented in E2-4. Instructions Journalize the transactions. (You may omit explanations.) E2-6 Marx Industries had the following transactions. 1. Borrowed $5,000 from the bank by signing a note. 2. Paid $3,100 cash for a computer. 3. Purchased $850 of supplies on account.
need help with E2-5 and E2-6

Answer 1

Answer-E2-4-

Date	Account Titles and Explanation	Debit	Credit
Oct. 1	Cash	15,000
	Sanculi, capital		15,000
	(To record investment in business)
Oct. 2	No Entry	0
	No Entry		0
Oct. 3	Office Furniture	1,900
	Accounts payable		1,900
	(To record furniture purchased on account)
Oct. 6	Accounts receivable	3,800
	Realty services revenue		3,800
	(To record service revenue earned)
Oct. 27	Accounts payable	1,100
	Cash		1,100
	(To record payment on account)
Oct. 30	Salaries expense	2,500
	Cash		2,500
	(To record salary paid)

Answer-E2-5-

a)

Trans. No	Debit Analysis		Credit Analysis
1	Increased Assets	Cash	Increased Liabilities	Notes Payable
2	Increased Assets	computer equipment	Decreased Assets	cash
3	Increased Expenses	Supplies	Increased Liabilities	Accounts Payable

b)

	Journal
Sl No.	Particulars	Debit	Credit
1	Cash	5,000
	Notes Payable		5,000
2	Assets - Computer	3,100
	Cash		3,100
3	Supplies (Expenses)	850
	Accounts Payable		850