Question

Journalize the following transactions in general journal form for the month of June 20XX. Identify each transaction by date. You may omit explanations of the transactions. Put journal entries in proper form.

June 1​Mike Cline invested $35,000 cash in his business.

June 2​Purchased $400 of office supplies on account.

June 4​Purchased office equipment for $6,000, paid $2,000 in cash and signed a 30-day note for the remainder.

June 6​Real estate commissions billed to clients in the amount of $4,000.

June 9​Paid $700 in cash for current month’s rent.

June 19​Paid $200 of amount owed for the office supplies purchased on June 2.

June 23​Received a bill for $600 advertising for the current month.

June 25​Paid $2,200 cash for office salaries.

June 29​Mr. Cline withdrew $1,200 cash for personal use.

June 30​Received a check for $3,000 from a client in payment of commissions billed on June 6.

		General Journal		Page 1
Date		Description	Debit	Credit

Answer 1

Answer: Journal ENtries

Date	Description	Debit	Credit
01-Jun	Cash	$35,000
	Owner's Capital, Mike		$35,000
	(Capital invested)
02-Jun	Office Supplies	$400
	Accounts Payable		$400
	(Supplies on account)
04-Jun	Office Equipment	$6,000
	Cash		$2,000
	Notes Payable		$4,000
	(Equipment purchased)
06-Jun	Accounts receivables	$4,000
	Service Revenue		$4,000
	(revenue earned)
09-Jun	Rent Expense	$700
	Cash		$700
	(Expenses paid)
19-Jun	Accounts Payable	$200
	Cash		$200
	(Cash paid)
23-Jun	Advertising expense	$600
	Accounts Payable [Advertising payable]		$600
	(Expenses incurred but not paid)
25-Jun	Salaries expense	$2,200
	Cash		$2,200
	(Salaries paid)
29-Jun	Owner's Drawings, Mike	$1,200
	Cash		$1,200
	(Cash withdrawn)
30-Jun	Cash	$3,000
	Accounts receivables		$3,000
	(Cash received from clients earlier billed)