Question

Using the information provided for Sadie’s Car Wash, use page 1 of the journal to journalize the transactions for May 1 through May 15. Source documents are abbreviated as follows: check, C; memorandum, M; receipt, R; sales invoice, S; calculator tape, T.

1

Received cash from owner as an investment, $8,000.00. R1.

2

Paid cash for supplies, $150.00. C1.

3

Paid cash for rent, $450.00. C2.

4

Bought supplies on account from Archer Supplies, $850.00. M1.

5

Paid cash for electric bill, $123.00. C3.

8

Paid cash on account to Archer Supplies, $500.00. C4.

8

Received cash from sales, $490.00. T8.

8

Sold services on account to Zachary’s Limos, $225.00. S1.

9

Paid cash for insurance, $600.00. C5.

10

Paid cash for repairs, $194.00. C6.

10

Received cash from sales, $238.00. T10.

11

Paid cash for miscellaneous expense, $20.00. C7.

11

Received cash from sales, $315.00. T11.

12

Received cash from sales, $450.00. T12.

15

Paid cash to owner as a withdrawal of equity for personal use, $2,000.00. C8.

15

Received cash from sales, $425.00. T15.

16

Paid cash for supplies, $550.00. C9.

17

Received cash on account from Zachary’s Limos, $115.00. R2.

17

Bought supplies on account from OK Supplies, $300.00. M2.

17

Received cash from sales, $250.00. T17.

19

Received cash from sales, $325.00. T19.

22

Bought supplies on account from OK Supplies, $30.00. M3.

22

Received cash from sales, $305.00. T22.

23

Sold services on account to Zachary’s Limos, $291.00. S2.

24

Paid cash for advertising, $75.00. C10.

24

Received cash from sales, $150.00. T24.

25

Received cash from sales, $385.00. T25.

26

Paid cash for supplies, $45.00. C11.

26

Received cash from sales, $150.00. T26.

29

Received cash on account from Zachary’s Limos, $175.00. R3.

31

Paid cash to owner as withdrawal of equity, $2,250.00. C12.

31

Received cash from sales, $250.00. T31.

Answer 1

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Event	Accounts	Debit	Credit
1	Cash	$    8,000
1	Sadie, Capital		$    8,000
2	Supplies	$        150
2	Cash		$        150
3	Rent Expense	$        450
3	Cash		$        450
4	Supplies	$        850
4	Accounts Payable		$        850
5	Electricity Expense	$        123
5	Cash		$        123
8	Accounts Payable	$        500
8	Cash		$        500
8	Cash	$        490
8	Sales Revenue		$        490
9	Insurance Expense	$        600
9	Cash		$        600
10	Repair Expense	$        194
10	Cash		$        194
10	Cash	$        238
10	Sales Revenue		$        238
11	Miscellaneous Expense	$          20
11	Cash		$          20
11	Cash	$        315
11	Sales Revenue		$        315
12	Cash	$        450
12	Sales Revenue		$        450
15	Sadie, Withdrawals	$    2,000
15	Cash		$    2,000
16	Supplies	$        550
16	Cash		$        550
17	Cash	$        115
17	Accounts Receivable		$        115
17	Supplies	$        300
17	Accounts Payable		$        300
17	Cash	$        250
17	Sales Revenue		$        250
19	Cash	$        325
19	Sales Revenue		$        325
22	Supplies	$          30
22	Accounts Payable		$          30
22	Cash	$        305
22	Sales Revenue		$        305
23	Accounts Receiable	$        291
23	Sales Revenue		$        291
24	Advertising Expense	$          75
24	Cash		$          75
25	Cash	$        385
25	Sales Revenue		$        385
26	Supplies	$          45
26	Cash		$          45
26	Cash	$        150
26	Sales Revenue		$        150
29	Cash	$        175
29	Accounts Receivable		$        175
31	Sadie, Withdrawals	$    2,250
31	Cash		$    2,250
31	Cash	$        250
31	Sales Revenue		$        250