Question

Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Cash $ 5,800 Accounts Receivable 1,800 Supplies 6,900 Land 10,500 Accounts Payable Notes Payable Common Stock Retained Earnings Totals $25,000 $ 6,800 2,300 8,300 7,600 $25,000 The following transactions occur in September. September 1 Provide services to customers for cash, $4,000. September 2 Purchase land with a long-term note for $5,700 from Crimson Company. September 4 Receive an invoice for $430 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $5,300. September 10 Purchase supplies on account for $1,000. September 13 Pay $3,300 to Crimson Company for a long-term note. September 18 Receive $4,300 from customers on account. September 20 Pay $830 for September's rent. September 30 Pay September's utility bill of $1,650. September 30 Pay employees $3,300 for salaries for the month of September. September 30 Pay a cash dividend of $1,000 to shareholders.

Answer 1

date general journal debit credit no cash $4,000 01-Sep 1 $4,000 service revenue (service revenue recorded) land $5,700 2. 02-Sep note payable $5,700 (purchase of land recorded) advertising expense $430 04-Sep 3 $430 accounts payable |(advertising expense recorded) accounts receivable $5,300 08-Sep $5,300 service revenue (service revenue recorded) supplies $1,000 10-Sep $1,000 accounts payable |(purchase of recorded) note payable $3,300 6 13-Sep $3,300 cash (payment for note payable recorded)

general journal date debit credit no cash $4,300 7 18-Sep $4,300 accounts receivable (cash received from accounts receivable) rent expense $830 20-Sep $830 cash |(rent expense recorded) utilities expense $1,650 30-Sep $1,650 cash |(utilities expense recorded) salaries expense $3,300 10 30-Sep cash $3,300 |(salaries expense recorded) dividends $1,000 11 30-Sep cash $1,000 |(dividends paid in cash) 00

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