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In: Accounting

Selected transactions for A. Mane, an interior decorator, in her first month of business, are as...

Selected transactions for A. Mane, an interior decorator, in her first month of business, are as follows.

Jan. 2 Invested $13,100 cash in business.
3 Purchased used car for $3,930 cash for use in business.
9 Purchased supplies on account for $655.
11 Billed customers $3,144 for services performed.
16 Paid $459 cash for advertising.
20 Received $917 cash from customers billed on January 11.
23 Paid creditor $393 cash on balance owed.
28 Withdrew $1,310 cash for personal use by owner.


Journalize the transactions.


Date

Account Titles and Explanation

Debit

Credit

Solutions

Expert Solution

IN THE BOOKS OF A MANE, INTERIOR DECORATOR FOR THE MONTH OF JANUARY

Date

Account Title

Debit $

Credit $

Jan 2

Cash A/c. Dr.

Mane’s capital a/c. Cr.

(commenced business with cash)

13,100

13,100

Jan 3

Used Car a/c. Dr.

Cash a/c. Cr.

(purchased used car for business use)

3,930

3,930

Jan 9

Purchases a/c. Dr.

Cash a/c. Cr.

Supplier’s a/c. Cr.

(purchased supplies)

655

262

393

Jan 11

Customers a/c. Dr.

Professional receipts a/c. Cr.

(customers billed for services performed)

3,144

3,144

Jan 16

Advertising expense a/c. Dr.

Cash Cr.

(Paid advertising expenses)

459

459

Jan 20

Cash a/c. Dr.

Customers a/c. Cr.

(cash received from customers billed on Jan 11)

917

917

Jan 23

Supplier’s A/c. Dr.

Cash a/c. Cr.

(Paid creditor cash on balanced owed)

393

393

Jan 28

Drawings a/c. Dr.

Cash a/c. Cr.

(withdrawal for personal use)

1,310

1,310

ekkarill92 answered 2 years ago
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