Question
come up with the outcome for the numbers shown
Transaction #5- Paid the following expenses: wages rent $950.00; utilities $450.00; interest $100.00 and miscellaneous expens

record a corporations first period of operations only need the outcome (transaction) for each of the expenses
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Answer #1

Following journal entry will be made to record various expenses :

Journal

Date

Account Title and Explanation

Debit

Credit

Transaction 5 Wages expense 1,125
rent expense 950
Utilities expense 450
Interest expense 100
Miscellaneous expense 275
Cash 2,900
(To record payment of various expenses)

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