Question

On October 1, 2019, Helen Kennedy opened an advertising agency.

DATE	TRANSACTIONS
Oct. 1	Helen Kennedy invested $70,000 cash in the business.
2	Paid October office rent of $4,000; issued Check 1001.
5	Purchased desks and other office furniture for $18,000 from Office Furniture Mart, Inc.; received Invoice 6704 payable in 60 days.
6	Issued Check 1002 for $4,100 to purchase art equipment.
7	Purchased supplies for $1,670; paid with Check 1003.
10	Issued Check 1004 for $800 for office cleaning service.
12	Performed services for $4,200 in cash and $1,800 on credit. (Use a compound entry.)
15	Returned damaged supplies for a cash refund of $300.
18	Purchased a computer for $3,000 from Office Furniture Mart, Inc., Invoice 7108; issued Check 1005 for a $1,750 down payment, with the balance payable in 30 days. (Use one compound entry.)
20	Issued Check 1006 for $9,500 to Office Furniture Mart, Inc., as payment on account for Invoice 6704.
26	Performed services for $4,800 on credit.
27	Paid $375 for monthly telephone bill; issued Check 1007.
30	Received $4,200 in cash from credit customers.
30	Mailed Check 1008 to pay the monthly utility bill of $1,080.
30	Issued Checks 1009–1011 for $9,000 for salaries.

Required:

Journalize the above transactions.

Post the above transactions to the ledger accounts.

Analyze:
What is the balance of account 202 in the general ledger?

Journal entry worksheet

	Date General Journal Debit Credit Oct 01, 2019

Answer 1