Question

Date 7/1 7/15 7/22 7/30 8/1 8/10 8/17 9/21 10/17 12/15 GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Cash Disbursements Desc. Amount Date Check# Desc. Stock sale $ 30,000 7/1 101 Insurance Clinic receipts 1,800 7/2 102 Legal fees clinic receipts 2,760 7/7 DC Advertising clinic receipts 3,600 7/8 103 Bikes Borrowing 26,000 7/24 DC Advertising clinic receipts 5,100 8/4 104 Kayaks clinic receipts 11,900 8/24 Office supplies Clinic receipts 12,800 9/1 105 Rent Clinic receipts 17,500 12/8 106 Race permit Race receipts 30,000 12/16 107 Salary 12/31 108 Dividend 12/31 109 Dividend $141,460 DC Amount $ 4,320 1,300 260 11,600 660 22,400 1,760 1,920 1,160 2,000 3,000 3,000 $53,380 Summary of Transactions Beginning Cash Balance Ending Cash Balance + - July 1, 2021 $ 0 Cash Receipts $141,460 Cash Disbursements $53,380 December 31, 2021 $ 88,080

Answer 1

Hi

Let me know in case you face any issue:

| Credit Debit 300 $ Naming convention is not available, can be slightly different: Solution: 2-b: Journal entries 1) Event Account title and explaination Dec.31 Cash 2021 Interest Revenue (To record the amount that increase cash) 2) Dec.31 Miscellaneous expense or Service Fee 2021 Cash (To record the amount that decrease cash) $ 300 100 $ 100