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Question 1 Selected transactions for Pangy Box are listed below. Journalize the transactions 1. Jan 01 - Paid monthly insuran

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Answer #1
Date Journal Entry Debit Credit
Jan 1

Cash a/c

To Insurance bill a/c

 $200

$200
Jan 2

Computer a/c

To cash a/c

 $1325

$1325
Jan 5

Cash a/c

To Shipping charges a/c

 $287

$287
Jan 10

Account Receivable a/c

To Revenue a/c

 $300

$300
Jan 15

Cash alc

To Debtors a/c

 $300

$300
Jan 25

Dividends Payable a/c

To Cash a/c

 $1000

$1000
Jan 26

Advertisment a/c

To Outstanding advertisement a/c

 $50

$50
Jan 30

Rent a/c

To Cash a/c

 $340

$340
Jan 30

Cash a/c

To income received in advance

 $5000

$5000
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