Question

enith Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.

Transactions
Mar.	1	Paid rent for the month, $4,000.
	3	Paid advertising expense, $1,350.
	5	Paid cash for supplies, $1,800.
	6	Purchased office equipment on account, $11,500.
	10	Received cash from customers on account, $8,600.
	15	Paid creditor on account, $3,180.
	27	Paid cash for miscellaneous expenses, $700.
	30	Paid telephone bill for the month, $550.
	31	Fees earned and billed to customers for the month, $37,200.
	31	Paid electricity bill for the month, $830.
	31	Paid dividends, $2,000.

Journalize the preceding selected transactions for March 2018 in a two-column journal. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTS
Zenith Consulting Co.
General Ledger
ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Office Equipment LIABILITIES 21 Accounts Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends	REVENUE 41 Fees Earned EXPENSES 51 Rent Expense 52 Advertising Expense 53 Utilities Expense 54 Miscellaneous Expense

Answer 1

Mar-01	Rent expenses	$    4,000
	Cash		$    4,000
	(To record payment of rent for the month)
Mar-03	Advertising expenses	$    1,350
	Cash		$    1,350
	(To record payment advertising expenses for the month)
Mar-05	Supplies	$    1,800
	Cash		$    1,800
	(To record payment for supplies)
Mar-06	Office equipment	$ 11,500
	Accounts payable		$ 11,500
	(To record purchase of office equipment on account)
Mar-10	Cash	$    8,600
	Accounts receivable		$    8,600
	(To record cash receipt from customers on account)
Mar-15	Accounts payable	$    3,180
	Cash		$    3,180
	(To record payment to creditors on account)
Mar-27	Misc. expenses	$        700
	Cash		$        700
	(To record payment for misc. expenses)
Mar-30	Utilities expenses	$        550
	Cash		$        550
	(To record payment for telephone expenses for the month)
Mar-31	Accounts receivable	$ 37,200
	Fees earned		$ 37,200
	(To record fee earned and billed to customer for the month)
Mar-31	Utilities expenses	$        830
	Cash		$        830
	(To record payment for electricity bill for the month)
Mar-31	Dividends	$    2,000
	Cash		$    2,000
	(To record payment of dividends)