Goodafternoon, Everyone!!
I need to know if I am in the right track.
Thank you,
Thalialex
Joural entry:::
Feb. 1 Paid the secretary for two weeks' wages, $600.
Cash (debit)/Wage Payable (debit)
Feb. 2 Paid the amount due to Morgan Equipment for the office equipment purchased last month $1,500
Office Equip. (debit)/ Cash (credit)
Feb. 3 Accepted an advance fee in cash for artwork to be done for another agency, $1,800.
Cash (debit)/unearned art fees (credit)
Feb. 4 Purchased a copier from Morgan Equipment for $2,100 paying $250 in cash and agreeing to pay he rest in equal payments over the next five months.
Equip. (debit) 2,100
Cash (debit) 350
Acc.Payable (credit) 1,750
Feb. 5 Performed advertising services and accepted a cash fee, $1,050.
Serv. Rev. (debit)/Cash (credit)
Feb. 6 Received payment on account from Ward Department Stores for services performed last month, $2,800
Feb. 7 Paid amount due for the telephone bill that was received and recorded at the end of January , $70.20.
Telephone Exp. (debit)/Cash (credit)
Feb. 8 Performed advertising services for Ward Department Stores and agreed to accept payment next month $3,200.
Feb. 9 Performed art services for a cash fee, $580
Cash (debit)/Serv. Rev. (credit)
Feb. 10 Received and paid the utility bill for February, $110. Paid the secretary for two weeks' wages, $600.
Utility bill (debit)/Cash (credit)
Feb. 11 Paid the rent for March in advance, $400.
Rent exp. (debit)/Cash (credit)
Feb. 12 Received the telephone bill for February, which is to be paid next month, $80.
Prepaid bill (debit)/Cash (credit)
Feb. 13 Paid out cash to Joan Miller as a withdrawal for personal living expenses, $1,400.
Withdrew personal expense (debit)/Cash (credit)
