Question

Problem 2-3A (Part Level Submission) Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2018 (the end of its fiscal year) Marigold Corp. Trial balance December 31, 2018 Debit Credit Cash Accounts Recelvable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Retained Earnings $ 8,000 16,000 13,000 4,000 19,800 $20,500 30,300 10,000 $60,800 $60,800 Summarized transactions for January 2019 were as follows. 1. Advertising costs, paid in cash, $1,140 2. Additional supplies acquired on account $3,320 3. Miscellaneous expenses, paid in cash, $1,630 4. Cash collected from customers in payment of accounts recelvable $12,990 5. Cash paid to creditors for accounts payable due $12,540 6. Repair services performed during January: for cash $6,660; on account $9,440 7. Wages for January, paid in cash, $2,350 8. Dividends during January were $2,540

Answer 1

Journal entries

Date	account and explanation	debit	credit
1	Advertising expense	1140
	Cash		1140
	(To record advertising paid)
2	Supplies	3320
	Account payable		3320
	(To record purchase supplies)
3	Miscellaneous expense	1630
	Cash		1630
	(To record mis exp paid)
4	Cash	12990
	Account receivable		12990
	(To record cash collection)
5	Account payable	12540
	Cash		12540
	(To record amount paid)
6	Cash	6660
	Account receivable	9440
	Service revenue		16100
	(To record service revenue)
7	Wages expense	2350
	Cash		2350
	(To record wages paid)
8	Cash dividend	2540
	Cash		2540
	(To record dividend paid)