Question

available until you sign in again Image Res. eBook Show Me How Calculator Printem Transactions Innovative Consulting Co. has the following accounts in its ledger Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Fees Earned, Rent Expense, Advertising Expense, Utilities Expense, Miscellaneous Expense. Journalize the following selected transactions for October 20Y2 in a two-column journal Journal entry explanations may be omitted. If an amount box does not require an entry, leave it blank Oct. 1. Paid rent for the month, $2,500. 4. Paid advertising expense, $1,000 5. Pald cash for supplies, $1,800 6. Purchased office equipment on account, $11,500. 12. Received cash from customers on account, $7,500 20. Paid creditor on account, $2,700 27. Paid cash for miscellaneous expenses, $700. 30. Pald telephone bill for the month, 5475 31. Fees earned and billed to customers for the month, 542,400 31. Paid electricity bill for the month, 1900, 31. Pald dividends, $1,500 2012 oct. 1 < Previous Next

Answer 1

General Journal

Date	Account Title and Explanation	Debit	Credit
Oct 1	Rent Expense	$2,500
	Cash		$2,500
Oct 4	Advertising Expense	$1,000
	Cash		$1,000
Oct 5	Supplies	$1,800
	Cash		$1,800
Oct 6	Office Equipment	$11,500
	Accounts Payable		$11,500
Oct 12	Cash	$7,500
	Accounts Receivable		$7,500
Oct 20	Accounts Payable	$2,700
	Cash		$2,700
Oct.27	Miscellaneous Expanse	$700
	Cash		$700
Oct 30	Utilities Expenses	$475
	Cash		$475
Oct.31	Accounts Receivable	$42,400
	Fee Earned		$42,400
Oct.31	Utilities Expenses	$900
	Cash		$900
Oct.31	Dividends	$1,500
	Cash		$1,500