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16 October, 07:26

The May transactions of Hanschu Corporation were as follows.

May 4 Paid $700 due for supplies previously purchased on account.

May 7 Performed advisory services on account for $6,800.

May 8 Purchased supplies for $850 on account.

May 9 Purchased equipment for $1,000 in cash.

May 17 Paid employees $530 in cash.

May 22 Received bill for equipment repairs of $900.

May 29 Paid $1,200 for 12 months of insurance policy. Coverage begins June 1.

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

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  1. 16 October, 09:53
    0
    account payable 700 debit

    cash 700 credit

    account receivables 6800 debit

    service revenue 6800 credit

    supplies 850 debit

    accounts ayable 850 credit

    equipment 10,000 debit

    cash 10,000 credut

    salaries expense 530 debit

    cash 530 credit

    repairs expense 900 debit

    cash 900 credit

    prepad insurance 1,200 debit

    cash 1,200 credit

    Explanation:

    We record using the accountign principles and rules suh ch as 1 value per account per entry.

    debit = credit

    among others.
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