Question

CALCULATOR Exercise 4-14 Selected accounts of Sheridan Company are shown here. Supplies Expense 810 July 31 Salaries and Wages Expense July 15 1,590 July 31 1,300 Service Revenue July 14 July 31 5,200 1,340 July 31 730 Supplies 1,550 July 31 July 1 Bal. 810 July 10 230 Salaries and Wages Payable July 31 1,300 Accounts Receivable July 31 730 Unearned Service Revenue 1,340 July 1 Bal. 2,400 July 31 July 20 730 After analyzing the accounts, journalize the July transactions. (Hint: July transactions were for cash.) (Record journal entries in the order presented in the proble select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do no Date Account Titles and Explanation Debit Credit

Answer 1

SOLUTION

A.

Date	Accounts titles and Explanation	Debit ($)	Credit ($)
July 10	Supplies	230
	Cash		230
	(Being Amount paid for supplies)
July 14	Cash	5,200
	Service revenue		5,200
	(Being amount of service revenue received)
July 15	Salaries and wages expenses	1,590
	Cash		1,590
	(Being Amount Paid for salary and wages)
July 20	Cash	730
	Unearned service revenue		730
	(Being amount of unearned service revenue received)

B.

Date	Accounts titles and Explanation	Debit ($)	Credit ($)
July 31	Supplies expense	810
	Supplies		810
	(To record supplies expense)
July 31	Accounts receivable	730
	Service revenue		730
	(To record revenue for services performed)
July 31	Salaries and wages expenses	1,300
	Salaries and Wages Payable		1,300
	(To record salaries and wages expense)
July 31	Unearned service revenue	1,340
	Service revenue		1,340
	(To record unearned service revenue earned)