Question

Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Creative Designs, a firm providing art services for advertisers, began business on June 1, 2015. The following transactions occurred during the month of June. June 1: Anne Clem invested $12,000 cash to begin the business in exchange for common stock. June 2: Paid $950 cash for June rent. June 3: Purchased $6,400 of office equipment on account. June 6: Purchased $3,800 of art materials and other supplies, paid $1,800 cash with the remainder due within 30 days. June 11: Billed clients $4,700 for services rendered. June 17: Collected $3,250 cash from clients on their accounts. June 19: Paid $3,000 cash toward the account for office equipment suppliers (see June 3). June 25: Paid $900 cash for dividends. June 30: Paid $350 cash for June utilities. June 30: Paid $2,500 cash for June salaries. Required Record the transactions for June in journal entry form. Note: Use negative signs with your answers. General Journal Description Date Debit Credit June 1 June 2 June 3 June 6 Cash June 11 June 17 June 19 June 25 June 30 (1) June 30 (2)

Answer 1

Date	Account titles and explanation		Debit(in $)	Credit(in $)
	Jun-01	Cash		12,000
		Common Stock			12,000
	Jun-02	Prepaid Rent		950
		Cash			950
	Jun-03	Office equipment		6,400
		Accounts Payable			6,400
	Jun-06	Supplies		3,800
		Cash			1,800
		Accounts Payable			2,000
	Jun-11	Accounts Receivable		4,700
		Service Revenue			4,700
	Jun-17	Cash		3,250
		Accounts Receivable			3,250
	Jun-19	Accounts Payable		3,000
		Cash			3,000
	Jun-25	Dividend expense		900
		Cah			900
	Jun-30	Utilities expenses		350
		Cash			350
	Jun-30	Salaries expenses		2,500
		Cash			2,500