Did i journalize these transactions correctly?
I think I made a few errors. Please let me know what I did wrong.
Storage and Moving Company
General Journal
Dec.2 received $180 as advance payments on storage rental
Debit=Cash A+ $180
Credit=Unearned service revenue L- $180
Dec 5. Paid accounts payable of $720
Debit=accounts payable L- $720
Credit=Cash A- $720
Dec 6. Paid insurance premiums of $8,100 in advance
Debit=Prepaid insurance A+ $8,100
Credit=Cash A- $8,100
Dec.7 Deposited $8,700 from completed moving jobs
Debit=Cash A+ $8,700
Credit=Capital Q+ $8,700
Dec. 10 Purchased $1,560 of moving supplies on credit
Debit=Moving Supplies A+ $1560
Credit=Accounts payable L+ $1560
Dec. 12 Acquired additional truck worth $56,000 by paying $6,000 cash and signing a long-term note payable for the balance.
Debit=Truck A+ 56,000
Credit=cash A- 6000
Credit=Long term note payable L+ 50,000
Dec. 14 paid wages of $2,700 for the period Dec. 1-14
Debit=Wage expense E+ 2700
Credit=Cash A- 2700
Dec. 17 Purchased $130 of office supplies on credit.
Debit=Office supplies A+ 130
Credit=Accounts payable L+ 130
Dec. 21 Deposited $6,260 from completed moving jobs and $1,600 of storage revenue receipts.
Debit=Cash A+ 7,860
Credit=Capital Q+ 7,860
Dec. 24 Paid $860 for repairs to truck for damages sustained in an accident.
Debit=Repair expense E+ 860
Credit=Cash A- 860
Dec. 28 Paid wages of $2,850 for the period of December 15-28
Debit=Wage expense E+ 2,850
Credit=Cash A- 2,850
Dec. 30 Paid $900 to a magazine for advertisements that appeared in December.
Debit=advertising expense E+ 900
Credit=Cash A- 900
Dec. 30 George Sanders (Owner) withdrew $1,600 cash for personal use.
Debit=Withdrawals W+ 1,600
Credit=cash A- 1,600
Dec. 31 Deposited $4,700 from completed moving jobs and $800 of storage revenue receipts.
Debit=Cash A+ $5,500
Credit=Capital Q+ $5,500
