Question

Kamal Harris opened Ladies First Francial Planning Company on April 1, 2020. During April, the following transactions were completed April 1 2 5 9 12 16 20 22 26 30 Owner invested $46,000 cash in the company Purchased a new truck for $22,000, paying $15,000 cash and the balance on nocourt. Purchased suppile for $8:30 on account. Pald $2,200 cash on a one-year Insurance policy effective April 1. Billed customers $7.000 for planning services performed Paid $3,500 cash on amount owed on the new truck and $530 on the amount owed on the supplies Paid $8,000 cash for employee salaries and wages. Collected $5,800 cash from customers biled on April 12. Paid $2,700 for rent of an office building. Owner withdrew $2,300 cash from the company INSTRUCTIONS: Joumalize the April transactions Be sure to use appropriate account names with nocurate spelling Amounts should be keyed appropriately as well (ex. 12,000). General Journal Account Titles Debit Credit Date April 1 46,000 46,000 2 5 MacBook Air co FI 80 F2 DOO OOO F3 *** F4 < F5 F6 F7 @ # 3 $ 4 2 % 5 &

Answer 1

DATE Date 114 General Journal Account title Debit (8) credit (8) cashala DY 46000 To Kamala Harris Capital Ale (Being owner invested cash in company] 46,000 DY 1.000 Truck Ale 93,000 To cash Ale TO Accounts Payable Alc (Being truck purchased by paying partly cash & partly on accouns] DV 830 supplies Ale 830 TO Accounts Payable afe (Being supplies purchased on accoud] Insurance Ale py(a.2008 1) 4650 prepaid insurance the DY (2,200 $3) 50 TO Cashale (Being insurance for 1 year Paid] 2,200 DY 2,900 10.14 1,900 Accounts Receivable ale TO Service Revenue (Being customers are billed] py 4030 1614 4,030 Accounts payable Ale TO Cash NC (Being $3.500 paid accounts peugable due for new truck & $630 paid for accounts payable due tor Supplies] PAGE

DATE 2014 salaries & wages All 8000 8000 TO cash ne (Being employee salarics N wages paid] 22.14 DY 5800 cash All 5,800 TO Accounts Receivable ale CBeing cash received from customos) DY 2,700 3614 Rent All 2,700 TO CashAlc (Being vent of an office building paid] 2,300 30/4 2,360 Kanala Harris withdraw's A/C To cash Alc [Being owner withdrawl booked]