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    deansboy811's Avatar
    deansboy811 Posts: 2, Reputation: 1
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    #1

    Jul 12, 2007, 12:26 PM
    Journal entries
    Martin Rental Company

    Oct 1 - Martin Buys Two New Saws On Credit At $375.00 Each. The Saws Are Added To Martins Rental Fleet; Payment Is Due In 30 Days

    Oct 8 - Martin Accepts Advance Deposits For Tool Rentals Of $75.

    Oct 15 – Martin Receives A $150.00 Bill For Electricity Provided By Local Elec. Co.; Payment Is Due In 30 Days.

    Oct 20 – Martin Charges Customers $750.00 For Tool Rentals; Payment Is Due From Customers In 30 Days.

    Oct 31 – Martin Receives Payments Of $500.00 From Customers Billed For Rentals On October 20.


    How Much Is Still Owed Martin From Its Customers?

    What Is Martins Income For The Month Of October?
    SUZZIE's Avatar
    SUZZIE Posts: 12, Reputation: 2
    New Member
    		  
    #2

    Jul 12, 2007, 12:50 PM
    Quote Originally Posted by deansboy811
    Martin Rental Company

    Oct 1 - Martin Buys Two New Saws On Credit At $375.00 Each. The Saws Are Added To Martins Rental Fleet; Payment Is Due In 30 Days

    Oct 8 - Martin Accepts Advance Deposits For Tool Rentals Of $75.

    Oct 15 – Martin Receives A $150.00 Bill For Electricity Provided By Local Elec. Co.; Payment Is Due In 30 Days.

    Oct 20 – Martin Charges Customers $750.00 For Tool Rentals; Payment Is Due From Customers In 30 Days.

    Oct 31 – Martin Receives Payments Of $500.00 From Customers Billed For Rentals On October 20.


    How Much Is Still Owed Martin From Its Customers?

    What Is Martins Income For The Month Of October?
    $425.00
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