Identifying accounting events from journal entries
Required
The following information is from the records of attorney Steve Ray. Write a brief explanation of the accounting event represented in each of the general journal entries.
Date | Account Titles | Debit | Credit |
Jan. 1 | Cash | 20,000 |
|
| Common Stock |
| 20,000 |
Feb. 10 | Cash | 4,000 |
|
| Unearned Revenue |
| 4,000 |
Mar. 5 | Supplies | 2,000 |
|
| Cash |
| 2,000 |
Apr. 30 | Prepaid Rent | 800 |
|
| Cash |
| 800 |
May 1 | Accounts Receivable | 24,000 |
|
| Service Revenue |
| 24,000 |
June 1 | Salaries Expense | 2,000 |
|
| Cash |
| 2,000 |
Aug. 5 | Cash | 12,000 |
|
| Service Revenue |
| 12,000 |
10 | Dividends | 1,000 |
|
| Cash. |
| 1,000 |
Sept. 10 | Cash | 4,400 |
|
| Accounts Receivable |
| 4,400 |
Oct. 1 | Property Tax Expense | 3,000 |
|
| Cash |
| 3,000 |
Dec. 31 | Supplies Expense | 800 |
|
| Supplies |
| 800 |
31 | Rent Expense | 4,400 |
|
| Prepaid Rent |
| 4,400 |
31 | Unearned Revenue | 2,240 |
|
| Service Revenue |
| 2,240 |
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