Question

Exercise 3-1 Here is the ledger for Sandhill Co.. Oct. 1 Oct. 10 2,210 3,310 400 Oct. 10 Oct. 20 450 Oct. 25 650 Oct. 6 850 Y Oct. 20 Cash 8,810 Oct. 4 2,790 Oct. 12 9,810 Oct. 15 850 Oct. 30 3,810 Oct. 31 Accounts Receivable 950 oct. 20 1,070 Supplies 2,210 Oct. 31 Equipment 4,810 Notes Payable Oct. 10 Accounts Payable 3,310 Oct. 3 Common Stock Oct. w Oct. 4 1,990 Oct. 3 9,810 Oct. 12 4,810 8,810

Answer 1

Answer Journal Entries in the books of SANDHILL Co. Date Particulars Debit ($) Credit ($) Oct-01 Cash A/C Dr. 8,810 To Common Stock A/C 8,810 (Issued stock for cash) Oct-10 Cash A/C Dr. 2,790 To Service Revenue A/C (Received cash for services provided) Oct-10 Cash A/C Dr. 9,810 To Notes Payable A/C 9,810 (Issued notes payable for cash) Oct-20 Cash A/C Dr. 850 To Accounts Receivable A/C 850 (Received cash in payment of account) Oct-20 Accounts Receivable A/C Dr. 1,070 To Service Revenue A/C 1,070 (Billed clients for service provided)

SANDHILL Co. Trail Balance at Oct-31, 2022 Particulars Cash Accounts receivable Supplies Equipment Notes Payable Accounts Payable Common Stock Dividends Service Revenue Salaries and Wages Expense Supplies Expense Rent Expense Totals Debit ($) Credit ($) 19,050 1,170 220 4,810 9,810 1,500 12,620 450 4,810 650 1,990 400 28,740 28,740