Journal Entries

Post the required journal entries from the transactions that have been provided.

Expert Solution


Transaction	General Journal	Debit ($)	Credit ($)	Calculation
a.	Office Supplies Expense	$14,238		3350+13836-2948
	Office Supplies		$14,238

b.	Insurance Expense	$8,937
	Prepaid Insurance		$8,937

c.	Salaries Expense	$5,000
	Salaries Payable		$5,000

d.	Depr Exp - Building	$27,833
	Accu. Depr - Building		$27,833

e.	Rent Receivable	$2,800
	Rent Earned		$2,800

f.	Unearned Rent	$5,074
	Rent Earned		$5,074

6 - Jan	Salaries Payable	$5,000
	Salaries Expense	$7,500
	Cash		$12,500

15 - Jan	Cash	$5,600
	Rent Receivable		$2,800
	Rent Earned		$2,800

	Insurance Expense Workings:
	April 1, 2017	$1,479		11832/24 x 3
	April 1, 2018	$3,528		10584/36 x 12
	August 1, 2019	$3,930		9432/12 x 5
	Total	$8,937

Journal entries have been provided as required.

Soumik Mallick Choudhury answered 3 years ago

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