Question

DATE TRANSACTIONS 2016 Sept. 1 Jewell Tucker invested $52,000 in cash to start the firm. 4 Purchased office equipment for $5,700 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 $13,700 in full payment. 20 Purchased supplies for $440; paid immediately with Check 1002 23 Returned damaged supplies for a cash refund of $130. 30 Issued Check 1003 for $3,400 to Den, Inc., as payment on account for Invoice 9823. 30 Withdrew $2,200 in cash for personal expenses. 30 Issued Check 1004 for $1,300 to pay the rent for October 30 Performed services for $2,350 in cash. 30 Paid $395 for monthly telephone bill, Check 1005. Prepare journal entries for the transactions incurred during September of 2016.

Answer 1

Jewell Tucker
Journal entries
Date	Account	Debit	Credit
1-Sep	Cash	$     52,000
	J. Tucker, Capital		$     52,000
4-Sep	Equipment	$        5,700
	Accounts Payable		$        5,700
16-Sep	Automobile	$     13,700
	Cash		$     13,700
20-Sep	Supplies	$           440
	Cash		$           440
23-Sep	Cash	$           130
	Supplies		$           130
30-Sep	Accounts Payable	$        3,400
	Cash		$        3,400
30-Sep	J. Tucker, Drawings	$        2,200
	Cash		$        2,200
30-Sep	Prepaid Rent	$        1,300
	Cash		$        1,300
30-Sep	Cash	$        2,350
	Service Revenue		$        2,350
30-Sep	Telephone expense	$           395
	Cash		$           395