Question

Michigan Sales Consultants completed the following transactions during the later part of January (Click the icon to view the transadtions.) Journalize the transactions of Michigan Sales Consultants. Include an explanation with each jounal entry. (Record debits first, then credts. Select the explanation on the last line of the joumal entry table) Jan. 22: Performed services for ฒstomers on account, $8,500. Accounts and Explanation Debit Credit More Into Jan. 22 Jan 22 Performed services for eustomers on sccount, $4.500 0 Received cash on account from customers, $5.000 31 Received aubility bll, $200, which will be paid during February 1 Paid monthiy salary to saleman $1.300 Jan. 30: Received cash on account from customers, 35,000 Accounts and Explanation Received $2,100 for thee months of corsulting service to be pertomd vtarting in February Cash dividends of $700 were paid to slockds Date Jan. 30 Print Done

Answer 1

Journal

Date	Account title	Debit	Credit
Jan. 22	Accounts receivable	8,500
	Service revenue		8,500
	(Services performed on account)
Jan. 30	Cash	5,000
	Accounts receivable		5,000
	(Cash received from customers)
Jan. 31	Utilities expense	200
	Accrued utility expense		200
	(Utility expenses outstanding)
Jan. 31	Salaries expense	1,300
	Cash		1,300
	(Salaries expense paid)
Jan. 31	Cash	2,100
	Unearned service revenue		2,100
	(Service revenue received in advance)
Jan. 31	Dividend payable	700
	Cash		700
	(Cash dividend paid)

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