Question

19. A. Journalize the following selected transactions for January. Explanations may be omitted. B. Fom accounts. CA Jan. 1 Received cash from the sale of common stock, S14,000. Received cash for providing accounting services, 59,500. Billed customers on account for providing services, S4,200. Paid advertising expense, $700. Received cash from customers on account, $2,500. Paid dividends, $1,010. Received telephone bill, $900. Paid telephone bill, 5900 Date Description Post. Debit Ref. Credit FANTO-

Answer 1

Date	Description	Post.Ref.	Debit	Credit
Jan.1	Cash		14,000
	Common stock			14,000
	(to record issue of common stock)
Jan.2	Cash		9,500
	Service revenue			9,500
	(to record cash received for service revenue)
Jan.3	Accounts receivable		4,200
	Service revenue			4,200
	(to record service provided on account)
Jan.4	Advertising expense		700
	Cash			700
	(to record payment of advertising expense)
Jan.5	Cash		2,500
	Accounts receivable			2,500
	(to record cash received from customer)
Jan.6	Dividends		1,010
	Cash			1,010
	(to record payment of dividend)
Jan.7	Utilities expense		900
	Accounts payable			900
	(to record telephone expenses)
Jan.8	Accounts payable		900
	Cash			900
	(to record payment of expenses)