Question

Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $24,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $700 per week payable monthly. 2 Paid office rent for the month $1,200. 3 Purchased dental supplies on account from Dazzle Company $4,100. 10 Performed dental services and billed insurance companies $4,700. 11 Received $1,100 cash advance from Leah Mataruka for an implant. 20 Received $2,900 cash for services performed from Michael Santos. 30 Paid secretary-receptionist for the month $2,800. 30 Paid $2,660 to Dazzle for accounts payable due.

1. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

2. Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous question.)

3.Prepare a trial balance on April 30, 2020.

Answer 1

JOURNAL ENTRIES IN THE BOOKS OF VERA ERNST DATE Dr. Cr. AMOUNT TUS AMOUNT Aprill PARTICULARS CASH CAPITAL 24,000 24,000 2: OFFICE RENT 1200 CASH 1200 3. DENTAL SUPPLIES H100 DAZZAL COMPANY H100 10. ADVERTISEMENT EXPENSES AND IN SU RANGE 4700 CASH 4700 11. CASH 1100 LEAH MATARURA 1100 20 20. CASH SERVICE PERFORMED 2900 2900 30 SALARY 2800 CASH 2800 2660 30. DAZZLE COMPANY CASH 2660