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  • Dec 6, 2012, 11:37 PM
    thalialex
    Accounting
    Please, review if correct.
    Thank you,


    Completed the series of advertisements for Marsh Tire Company that began on January 31. Billed the company for the total services performed, $800.

    Acc. rec. 800 debit
    Service revenue 800 credit

    Additional art equipment invested in the business by Joan Miller, $1,400

    Art Equipment $1400 debit
    Rusell, Capital 1,400 credit

    Purchased copier from Morgan Equipment for $2100 paying $350 cash and agreeing to pay the rest in equal payments over the next 5 months.

    Is it office equipment or just equipment $2100 debit
    Cash 350 debit
    Acc. Pay. $1750 credit
  • Dec 7, 2012, 08:43 AM
    pready
    Your last entry should be:
    Debit Office Equipment for $2100
    Credit Cash for $350
    Credit Accounts Payable for the difference between your debits and credits.

    The rest of your entries look correct.
  • Dec 7, 2012, 02:43 PM
    thalialex
    Thank you

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