Question

DATE			TRANSACTIONS
2019
Sept.		1	Zack Mason invested $52,000 in cash to start the firm.
		4	Purchased office equipment for $5,700 on credit from Den, Inc.; received Invoice 9823, payable in 30 days.
		16	Purchased an automobile that will be used to visit clients; issued Check 1001 for $13,700 in full payment.
		20	Purchased supplies for $440; paid immediately with Check 1002.
		23	Returned damaged supplies for a cash refund of $130.
		30	Issued Check 1003 for $3,400 to Den, Inc., as payment on account for Invoice 9823.
		30	Withdrew $2,200 in cash for personal expenses.
		30	Issued Check 1004 for $1,300 to pay the rent for September.
		30	Performed services for $2,350 in cash.
		30	Paid $395 for monthly telephone bill, Check 1005.

Prepare journal entries for the transactions incurred during September of 2019.

DATE	GENERAL JOURNAL	DEBIT	CREDIT

Answer 1

Date	General Journal	Debit	Credit
1-Sep	Cash	52000
	Zack Mason Capital		52000
	(To record cash invested in the business)
4-Sep	Equipment	5700
	Accounts Payable		5700
	(To record purchase of equipment on credit)
16-Sep	Automobile	13700
	Cash		13700
	(To record purchase of automobile for cash)
20-Sep	Supplies	440
	Cash		440
	(To record purchase of supplies)
23-Sep	Cash	130
	Supplies		130
	(To record return of damaged supplies)
30-Sep	Accounts Payable	3400
	Cash		3400
	(To record payment of cash on account)
30-Sep	Zack Mason Drawings	2200
	Cash		2200
	(To record withdrawal of cash for personal use)
30-Sep	Rent Expense	1300
	Cash		1300
	(To record payment of rent)
30-Sep	Cash	2350
	Fees Income		2350
	(To record receipt of fees)
30-Sep	Telephone Expense	395
	Cash		395
	(To record telephone expense paid in cash)