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16 May, 12:48

Selected transactions for Sheffield's Dog Care are as follows during the month of March. March 1 Paid monthly rent of $1,270. 3 Performed services for $150 on account. 5 Performed services for cash of $80. 8 Purchased equipment for $635. The company paid cash of $85 and the balance was on account. 12 Received cash from customers billed on March 3. 14 Paid salaries and wages to employees of $555. 22 Paid utilities of $76. 24 Borrowed $1,590 from Grafton State Bank by signing a note. 27 Paid $230 to repair service for plumbing repairs. 28 Paid balance amount owed from equipment purchase on March 8. 30 Paid $2,100 for six months of insurance.

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  1. 16 May, 13:21
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    The journal entries from March 1 to 30th March are detailed in the explanation.

    Explanation:

    The Question is to journalize the transactions of Sheffield's Dog Care during the Month of March

    Date Account Particulars Debit Credit

    Mar 1 Rent A/c $1,270

    Cash $1,270

    Being the record of Monthly rent payment for the month of March

    Mar 3 Accounts Receivable $150

    Service Revenue $150

    Being the record of service provided on account

    Mar 5 Cash $80

    Service Revenue $80

    Being the record of service provided for cash

    Mar 8 Equipment $635

    Cash $85

    Accounts Payable $550

    Being the record of equipment purchased

    Mar 12 Cash $150

    Accounts Receivable $150

    Being the record of cash received from the customer

    Mar 15 Wages Expenses $555

    Cash $555

    Being the record of wages paid

    Mar 22 Utilities Expense $76

    Cash $76

    Being the record of utilities expense

    Mar 24 Bank A/c $1,590

    Notes Payable $1,590

    Being the record of borrowed cash signing notes payable

    Mar 27 Repair Expense A/c $230

    Cash $230

    Being the record of repair of expense

    Mar 28 Accounts Payable A/c $550

    Cash $550

    Being the record of payment made to accounts payable

    Mar 30 Prepaid Insurance A/c $1.910

    Cash $1,910

    Being the record of payment for insurance.
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