Problem

Compound journal entries.The following transactions took place at the Cortez’s Leading Lad...

Compound journal entries.

The following transactions took place at the Cortez’s Leading Ladies during November 2010. Record the general journal entries that would be made for these transactions. Use a compound entry for each transaction.

DATE

TRANSACTIONS

Nov.  5

Performed services for Talent Search, Inc., for $16,000; received $8,000 in cash and the client promised to pay the balance in 60 days.

18

Purchased a graphing calculator for $150 and some supplies for $250 from Office Supply; issued Check 1008 for the total.

23

Received Invoice 1602 for $540 from Automotive Technicians Repair for repairs to the firm’s automobile; issued Check 1009 for half the amount and arranged to pay the other half in 30 days.

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Solutions For Problems in Chapter 4