PDA

View Full Version : Journalize and posting transaction


montreuilm
Nov 14, 2012, 07:15 PM
How do I journalize these transactions
Jul
1 invested 14000 cash in the business
2 purchased a used truck for 26400.00 paying 6400 cash and signing a note payable for the balance
3 collected 3000 for their cleaning needs for jul August and September
4 purchased cleaning supplies on account for 850.00
5 paid 1800 on a one year insurance policy effective jul
6 billed customers 3800 for cleaning services
7 paid 400 of amount owed on cleaning supplies
8 paid 1600 for employees salaries
9 collected 1400 from customers billed on 12 jul
10 billed customers for 3000 for cleaning services
11 paid gas and oil for the month on the truck 350
12 withdrew 1600 to pay for personal property taxes.

paraclete
Nov 15, 2012, 02:09 AM
These are simple transactions involving cash transactions expenses are debits income are credits with an offsetting entry to cash