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3. Analyze and Journalize the following entries; On June 1, 2012 Sam Near created a travel...

3. Analyze and Journalize the following entries; On June 1, 2012 Sam Near created a travel agency called Tours-For-Less. These activities occurred during the company’s first month:

June

1

Near created the new company by investing $40,000 cash and computer equipment worth $60,000.

2

The company rented furnished office space by paying $3,200 rent for the first month.

3

The company purchased $2,400 of office supplies for cash.

10

The company paid $7,200 for the premium on a one-year insurance policy.

14

The owner’s assistant was paid $3,600 for two weeks’ salary.

24

The company collected $13,600 of commissions from airlines on tickets obtained for customers.

28

The assistant was paid another $3,600for two weeks’ salary.

29

The company paid the month’s $3,500 phone bill.

30

The company paid $700 cash to repair its computer.

30

The owner withdrew $2,850 cash from the business.

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ekkarill92 answered 7 months ago
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