[Tristan3406]

I need help with this subject called accounting? I am fairly new so any help would help!


I have know idea where to put the transactions!

1. Purchased a used van for deliveries for $12,000.Paid $2,000 cash and signed a note payable for the remaining balance.
2. Paid $500 for office rent for the month.
3.Performed $4,400 of services on account.
4.Received a cash payment of $1,250 for services provided.
5.Purchased gasoline for $100 on account
6. Received a cash payment of $1,500 for services provided.
7. Made a cash payment of services of $500 on the not payable.
8. Paid $250 for utilities.
9Paid for the gasoline purchased on account.

[javaProgrammer]

1.Debit Business Vehicle 12,000, Credit Cash 2,000, Note payable 10,000
2.Debit Office Rent Expence 500, Credit Cash 500
3.Debit Accounts Receivable 4,400, Credit Capital 4,400(if specified, credit Service Recenue 4,400),
4.Debit Cash 1,250, Credit Capital 1,250(If specified, credit Service Revenue 1,250),
5.Debit Utility Expence 100(If specified, Debit Vehicle Expence 100), Credit Accounts Payable 100,
6.Debit Cash 1,500, Credit Capital 1,500(If specified, credit Service Revenue 1,500),
7.Debit Notes Payable 500, Credit Cash 500
8.Debit Utility Expense 250, Credit Cash 250,
9.Debit Accounts Payable 100, Credit Cash 100

[morgaine300]

You should start your own thread for your question. It would get awful messy around here if everyone kept tagging onto everyone else's stuff.

And please read the guidelines for posting homework:
https://www.askmehelpdesk.com/financ...-b-u-font.html

[nyree]

Earned revenue of $8,000 of which $3,000 is collected in cash and the balance is due in September.

[pukro]

Very elaborate and satisfying response.

[pready]

Debit Cash for the amount received, because you received cash
Debit Accounts Reveivable for the difference, because customer stills owes you some cash
Credit Earned Revenue for the amount earned, because this is a sale for services rendered.