Question

I need help ASAP to complete this problem.

Guttery invested 158,000 in cash to start the business

Paid 5800 for the current month's rent

bought office furniture for 16,520 in cash

Performed services for 8000 in cash

paid 1,230 for the monthly telephone bill

Performed services for 13800 on credit

Purchased a computer and copier for 3760: paid 12800 in cash immediately with the balance due in 30 days

Paid 3800 in cash for office cleaning services for the month

purchased addition office chairs for 5600 received credit terms fo 30 days

purchased office equipment for 38000 and paired half this amount in cash immediately: the balance is due in 30 days

issued a check for 9200 to pay salaries

performed services for 14300 in cash

performed services for 15800 on credit

collected 7800 on accounts receivable from charge customers

issued a check for 2800 in partial payment of the amount owed for office chairs

paid 680 to duplication company for photocopy work performed during the month.

paid 1200 for the monthly electric bill

guttery withdrew 8000 in cash for personal business

8 Problem 3.4A (Alge) Uaing account to record all business transaction. LO 3-1, 3-2, 3-4 Trans white -- Please

Answer 1

Randy Guttery, Landscape Consultant Journal entries Date Account a Cash Randy Guttery, Capital Credit Debit $ 158,000 $ 158,000 b Rent expense Cash $ 5,800 $ 5,800 с $ 16,520 Office Furniture Cash $ 16,520 d Cash $ 8,000 Fees Income $ 8,000 e $ 1,230 Telephone expense Cash $ 1,230 f $ 13,800 Accounts Receivable Fees Income $ 13,800 g $ 37,600 Office Equipment Cash Accounts Payable $ 12,800 $ 24,800 h $ 7,150 Cash Accounts Receivable $ 7,150 i $ 3,800 Miscellaneous expense Cash $ 3,800 j $ 5,600 Office Furniture Accounts Payable $ 5,600 k $ 38,000 Office Equipment Cash Accounts Payable $ 19,000 $ 19,000 1 $ 9,200 Salaries expense Cash $ 9,200 m $ 14,300 Cash Fees Income $ 14,300 n n $ 15,800 Accounts Receivable Fees Income $ 15,800 O $ 7,800 Cash Accounts Receivable $ 7,800 р $ 2,800 Accounts Payable Cash $ 2,800 q $ 680 Miscellaneous expense Cash $ 680 r $ 1,200 Utilities expense Cash $ 1,200 S $ 8,000 Randy Guttery, Drawing Cash $ 8,000

Date Date Credit Date Credit Debit Date Credit Accounts Receivable $ 13,800 h $ (7,150) $ 15,800 o $ (7,800) Debit Date Office Equipment $ 37,600 $ 38,000 Debit Date Office Furniture $ 16,520 $ 5,600 f с 8 k n j Randy Guttery, Landscape Consultant T Accounts Date Debit Date Credit Cash a $ 158,000 b $ (5,800) d $ 8,000 C $(16,520) h $ 7,150 e $ (1,230) m $ 14,300 g $(12,800) o $ 7,800 i $ (3,800) k $(19,000) $ (9,200) p $ 2,800) q $ (680) $ (1,200) $ (8,000) r S Bal. Bal. Bal. Bal. $ 114,220 Accounts Payable 8 j $ (2,800) k $ 14,650 Randy Guttery, Capital $158,000 $ 75,600 Randy Guttery, Drawing $ 8,000 $ 22,120 Fees Income d f a s $ 24,800 $ 5,600 $ 19,000 $ 8,000 $ 13,800 $ 14,300 $ 15,800 p m n Bal. $ 46,600 Bal. $158,000 Bal. $ 8,000 $ 51,900 Rent expense $ 5,800 Utilities expense $ 1,200 Salaries expense $ 9,200 Bal. Telephone expense $ 1,230 b I e Bal. Bal. $ 1,200 Bal. $ 9,200 Bal. $ 1,230 $ 5,800 Miscellaneous expense $ 3,800 $ 680 i q Bal. $ 4,480

Randy Guttery, Landscape Consultant Account Names Cash Accounts Receivable Office Equipment Office Furniture Accounts Payable Randy Guttery, Capital Randy Guttery, Drawing Fees Income Rent expense Utilities expense Salaries expense Telephone expense Miscellaneous expense Totals Trial Balance Debit Credit 114,220 14,650 75,600 22,120 46,600 158,000 8,000 51,900 5,800 1,200 9,200 1,230 4,480 256,500 256,500

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