Question

Transactions 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. Oct. 1. Paid rent for the month, $3,100. 3. Paid advertising expense, $2,000. 5. Paid cash for supplies, $860. 6. Purchased office equipment on account, $13,200. 10. Received cash from customers on account, $4,290. 15. Paid creditors on account, $1,260. 27. Paid cash for miscellaneous expenses, $540. 30. Paid telephone bill (utility expense) for the month, $200. 31. Fees earned and billed to customers for the month, $28,600. 31. Paid electricity bill (utility expense) for the month, $340. 31. Withdrew cash for personal use, $2,200. Journalize the selected transactions for October 2019. 2019 Oct. 1 Rent Expense Cash 2019 Oct. 3 Advertising Expense Cash 2019 Oct. 5 Supplies Cash 2019 Oct. 6 Office Equipment Accounts Payable 2019 Oct. 10 Cash Accounts Receivable 2019 Oct. 15 Accounts Payable Cash 2019 Oct. 27 Miscellaneous Expense Cash 2019 Oct. 30 Utilities Expense Cash Oct. 31: Fees earned Accounts Receivable Fees Earned Oct. 31: Paid bill Utilities Expense Cash Oct. 31: Withdrawal Jason Payne, Drawing Cash

Answer 1

Journal Entries for October 2019

Oct.1 Rent Expense Dr. $3,100

To Cash $3,100

Oct.3 Advertising Expense Dr. $2,000

To Cash $2,000

Oct.5 Supplies Dr. $860

To Cash $860

Oct.6 Office Equipment Dr. $13,200

To Accounts Payable $13,200

Oct.10 Cash Dr. $4,290

To Accounts Receivable $4,290

Oct.15 Accounts Payable Dr. $1,260

To Cash $1,260

Oct.27 Miscellaneous Expense Dr. $540

To Cash $540

Oct.30 Utilities Expense Dr. $200
To Cash $200

(Fees Earned)

Oct. 31 Accounts Receivable Dr. $28,600

To Fees Earned $28,600

(Paid bill)

Oct. 31 Utilities Expense Dr. $340

To Cash $340

(Withdrawal)

Oct. 31 Jason Payne Drawings Dr. $2,200

To Cash $2,200