Question

Check my Required information C4-6 Recording/Posting Transactions and Adjustments, and Preparing Trial Balances and Financial
ch NNN January 1 2. 3 2 2 2 2 2 3 3 3 3 4 5 6 7 8 9 10 16 20 $6,000 is paid for 12 months insurance starting January 1. (Rec
Required: 1. Record journal entries for the transactions that occurred from January 1–25. (If no entry is required for a tran
Required: 1. Record journal entries for the transactions that occurred from January 1–25. (If no entry is required for a tran
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Answer #1
JOURNAL
Date Particulars Debit Credit
1-Jan Prepaid insurance 6000
   Cash 6000
(For payment of insurance premium)
2-Jan Prepaid rent 4800
   Cash 4800
(For payment of rent)
3-Jan Cash 30000
   5% note payable 30000
(Borrowing made)
4-Jan Delivery van 28800
   Cash 28800
(For purchase of delivery van)
5-Jan Cash 4000
   Common stock 4000
(common stock issued)
6-Jan Supplies 1400
   Accounts payable 1400
(For purchase of supplies)
7-Jan Cash 700
   Accounts receivable 700
(for cash collection)
Date Particulars Debit Credit
8-Jan Accounts payable 300
   Cash 300
(for payment)
9-Jan Accounts receivable 10600
   Service revenue 10600
(revenue generated)
10-Jan Cash 7400
   Accounts receivable 7400
(revenue generated)
16-Jan Salaries expense 2960
   Cash 2960
(for payment of salaries
20-Jan Cash 3700
   Deferred revenue 3700
advance received)
25-Jan Cash 3500
   Accounts receivable 3500
(cash collected)
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