Recording transactions in the general journal.
Selected accounts from the general ledger of Contemporary Creations Company follow. Record the general journal entries that would be made to record the following transactions. Be sure to include dates and descriptions in these entries.
101 Cash
111 Accounts Receivable
121 Supplies
131 Equipment
141 Automobile
202 Accounts Payable
301 Tina Turner, Capital
302 Tina Turner, Drawing
401 Fees Income
511 Rent Expense
514 Salaries Expense
517 Telephone Expense
DATE | TRANSACTIONS |
2010 |
|
Sept. 1 | Tina Turner invested $31,000 in cash to start the firm. |
4 | Purchased office equipment for $4,250 on credit from Zen, Inc.; received Invoice 9823, payable in 30 days. |
16 | Purchased an automobile that will be used to visit clients; issued Check 1001 for $11,250 in full payment. |
20 | Purchased supplies for $210; paid immediately with Check 1002. |
23 | Returned damaged supplies for a cash refund of $60. |
30 | Issued Check 1003 for $2,800 to Zen, Inc., as payment on account for Invoice 9823. |
30 | Withdrew $1,000 in cash for personal expenses. |
30 | Issued Check 1004 for $600 to pay the rent for October. |
30 | Performed services for $850 in cash. |
30 | Paid $110 for monthly telephone bill, Check 1005. |
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