Question

Question 5 The following events took place for ESP Service Corporation during the month of June, 2017: June 2 Paid total rent of $8,380 for two months, June and July. Purchased office supplies with cash for $420. June 3 June 5 Provided services to a customer, who paid cash $890 June 7 Provided services to another customer. Invoiced the customer $1,070, which is to be paid on June 21. June 12 Paid $530 for an invoice from the utility company. June 21 Received payment from the customer invoiced on June 7 Record journal entries for the above transactions for the month of June 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

Answer 1

All journal entries, as asked:

Date	Accounts title	Debit	Credit	Working/Explanation
02-Jun	Prepaid Rent	$                   8,380		at the end of the month, $4190 will be debited to Rent expense in adjusting entry.
	Cash		$                 8,380
	(2 months rent paid)
03-Jun	Office Supplies [or Supplies]	$                      420
	Cash		$                     420
	(Supplies paid)
05-Jun	Cash	$                      890
	Service revenue		$                     890
	(Revenue earned and received)
07-Jun	Accounts receivables	$                   1,070
	Service revenue		$                 1,070
	(Revenue earned but not received)
12-Jun	Utilities expense	$                      530		If it had been an old invoice, Utilities payable would have been debited]
	Cash		$                     530
	(Expenses paid)
21-Jun	Cash	$                   1,070
	Accounts receivables		$                 1,070
	(Revenue not received yet, now received)