Question

1:40 PM Fri Sep 18 10% <Back Accounting Cycle GJE Financial Statements Homework - Ch 4.xlsx GL AJE ATB FS CJE STEP 1: Analyze STEP 2: Journalized the Transactions UTB Green Neighbors is a gardning service company in Bakersfield. On May 1, the carryover balance in the accounts were as follow: Cash $5,300; Accounts Receivable $700; Supplies S1,200; Building $50,000; Accounts Payable $1,200; Common Stock $56.000. Below is the Chart of Accounts for Green Neighbors: Liabilities Accounts Payable Uneamed Revenue Salaries and Wages Payable Notes Payble Assets Cash Accounts Receable Supplies Prepaid Rent Prepaid Insurance Inventory Equipment - Veile Accumulated Depreciation - Vehicle Building Accumulated Depreciation - Building Stockholder's Equity Common Stock Retained Earnings Revenue Salaries and Wages Expense Insurance Expense Supplies Expense Depreciation Expense Dividends Below are the transactions for May 2020: 06/01/2020 05/03/2020 06/10/2020 Paid $3.000 cash for 5 months insurance. No expense has been recorded yet. Biled $2,200 to client for services provided Purcased a truck for $15,000 $1.000 paid with cash and the rest on account

Answer 1

Journal Entries
Date	Particulars			Debit	Credit
05/01/2020	Prepaid Insurance			$   3,000.00
	To Cash				$   3,000.00
05/03/2020	Accounts Receivable			$   2,200.00
	To Revenue				$   2,200.00
05/10/2020	Truck			$ 15,000.00
	To Cash				$   1,000.00
	T0 Accounts Payable				$ 14,000.00
05/15/2020	Supplies			$      500.00
	To Cash				$      500.00
05/21/2020	Cash			$      400.00
	To Unearned Revenue				$      400.00
05/25/2020	Accounts Payable			$      450.00
	To Cash				$      450.00
05/30/2020	Cash			$   2,500.00
	To Revenue				$   2,500.00