Question

71% 3:47 PM ← Homework!"Read-only Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies: Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Journalize the following selected transactions for October 2019 in a two-column journal. Journal entry explanations may be omitted. Oct. 1. Paid rent for the month, $3,600. 3. Paid advertising expense, $1,200. 5. Paid cash for supplies, $750. 6. Purchased office equipment on account, $8,000. 10. Received cash from customers on account, $14,800. 15. Paid creditors on account, $7,110 27. Paid cash for miscellaneous expenses, $400. 30. Paid telephone bill (utility expense) for the month, $250. 31. Fees earned and billed to customers for the month, $33,100. 31. Paid electricity bill (utility expense) for the month, $1,050. 31. Withdrew cash for personal use, $2,500.

Answer 1

Journal Entries:
Date	Accounts title and explanations				Debit $	Credit $
1-Oct	Rent expenses				3600
	Cash account					3600
3-Oct	Advertising expense				1200
	Cash account					1200
5-Oct	Supplies account				750
	Cash account					750
6-Oct	Office equipment				8000
	Accounts payable					8000
10-Oct	Cash account				14800
	Accounts receivable					14800
15-Oct	Accounts payable				7110
	Cash account					7110
27-Oct	Misc expenses				400
	Cash account					400
30-Oct	Utility expenses				250
	Cash account					250
31-Oct	Accounts receivable				33100
	Fees earned					33100
31-Oct	Utility expenses				1050
	Cash account					1050
31-Oct	Drawings				2500
	Cash account					2500