Journalizing transactions [10 min]
Texas Sales Consultants completed the following transactions during the latter part of January:
Jan 22 | Performed service for customers on account, $8,000. |
30 | Received cash on account from customers, $7,000. |
31 | Received a utility bill, $180, which will be paid during February. |
31 | Paid monthly salary to salesman, $2,000. |
31 | Paid advertising expense of $700. |
Requirement
1. Journalize the transactions of Texas Sales Consultants. Include an explanation with each journal entry.
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