Question

A company has the following transactions during the month of February February 2 Pay $670 for radio advertising for February. February 7 Purchase beauty supplies of $1,270 on account. February 14 Provide beauty services of $2,750 to customers and receive cash. February 15 Pay employee salaries for the current month of $870. February 25 Provide beauty services of $970 to customers on account. February 28 Pay utility bill for the current month of $270. Required: Record each transaction. The company uses the following accounts: Cash, Accounts Receivable, S Revenue, Advertising Expense, Salaries Expense, and Utilities Expense. (If no entry is required for Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No General Journal Debit Date February 02 1 Advertising Expense Cash 2 February 07 Supplies Prev 4 or Next >

Answer 1

Requirement 1)

Date	Accounts	Debit	Credit
Feb 2	Advertising Expense	670
	Cash		670
Feb 7	Supplies	1270
	Accounts Payable		1270
Feb 14	Cash	2750
	Service Revenue		2750
Feb 15	Salaries	870
	Cash		870
Feb 25	Accounts Receivables	970
	Service Revenue		970
Feb 28	Utilities Expense	270
	Cash		270

A company
Trial Balance
	Debit	Credit
Cash	940
Supplies	1270
Accounts Receivables	970
Equipment
Accounts Payable		1270
Notes Payable
Common Stock
Service Revenue		3720
Advertising Expense	670
Salaries Expense	870
Utilities Expense	270
	4990	4990

Requirement 2)

Date	Accounts	Debit	Credit
Jan 1	Cash	27000
	Common Stock		27000
Jan 5	Land	16500
	Notes Payable		16500
Jan 9	Equipment	7500
	Cash		7500
Jan 12	No Entry
Jan 18	Cash	11500
	Service Revenue		11500
Jan 23	Supplies	1500
	Accounts Payable		1500
Jan 31	Salaries	4500
	Cash		4500

A company
Trial Balance
	Debit	Credit
Cash	26500
Supplies	1500
Land	16500
Equipment	7500
Accounts Payable		1500
Notes Payable		16500
Common Stock		27000
Service Revenue		11500
Salaries Expense	4500
	56500	56500