Record the following selected transactions for April in a two-column journal, identifying each entry by letter: (a) Received $20,000 from Sabrina, the owner. Purchased equipment for $50,000, paying $10,000 in cash getting a loan for the remainder. (c) Paid $2,000 for rent for April. (d) Purchased $5,000 of supplies on account. (e) Recorded $3,000 of fees earned on account. (f) Received $10,000 in cash for fees earned. (g) Paid $3,000 to creditors on account. (h) Paid wages of $3,000. Received $1,900 from customers on account. (i) Recorded owner's withdrawal of $1,000. () letter (a) Description Debit Credit (b) (c) (d) (e) KO (h)
Record the following selected transactions for April in a two-column journal, identifying each entry by letter: (a) Received $20,000 from Sabrina, the owner. Purchased equipment for $50,000, paying $10,000 in cash getting a loan for the remainder. (c) Paid $2,000 for rent for April. (d) Purchased $5,000 of supplies on account. (e) Recorded $3,000 of fees earned on account. (f) Received $10,000 in cash for fees earned. (g) Paid $3,000 to creditors on account. (h) Paid wages of $3,000. Received $1,900 from customers on account. (i) Recorded owner's withdrawal of $1,000. () letter (a) Description Debit Credit (b) (c) (d) (e) KO (h)
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter18: Acquiring Capital For Growth And Development
Section: Chapter Questions
Problem 1AP
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