Question

Selected activity of Mason Consulting Services follow DATE TRANSACTIONS 2019 Sept. 1 Zack Mason invested $59,000 in cash to start the firm. 4 Purchased office equipment for $6,400 on credit from Den, Inc. received Invoice 9823, payable in 30 days. 16 Purchased an automobile that will be used to visit clients issued Check 1001 for $14,400 in full payment 20 Purchased supplies for $510; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $165. 30 Issued Check 1003 for $4,100 to Den, Inc., as payment on account for Invoice 9823 30 Withdrew $2,900 in cash for personal expenses 30 Issued Check 1004 for $1,650 to pay the rent for September 30 Performed services for $2, 700 in cash 30 Paid $430 for monthly telephone bill, check 1005 Prepare journal entries for the transactions incurred during September of 2019. View transaction list View journal entry worksheet

Answer 1

Required journal entries are as prepared below:

Date	Particulars	L.F	Amount ($)	Amount ($)
2019
Sep-01	Cash		59,000
	Zach Mason Capital			59,000
Sep-04	Office Equipment		6,400
	Accounts Payable			6,400
Sep-16	Automobile		14,400
	Cash			14,400
Sep-20	Supplies		510
	Cash			510
Sep-23	Cash		165
	Supplies			165
Sep-30	Account Payable		4,100
	Cash			4,100
Sep-30	Zach Mason, Drawing		2,900
	Cash			2,900
Sep-30	Prepaid Rent		1,650
	Cash			1,650
Sep-30	Cash		2,700
	Fees Income			2,700
Sep-30	Telephone Expense		430
	Cash			430