1 Zack Mason invested $56,000 in cash to start the firm. 4 Purchased office equipment for $6,100 on credit from Den, Inc.; received Invoice 9823, payable in 30 days. 16 Purchased an automobile that will be used to visit clients; issued Check 1001 for $14,100 in full payment. 20 Purchased supplies for $480; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $150. 30 Issued Check 1003 for $3,800 to Den, Inc., as payment on account for Invoice 9823. 30 Withdrew $2,600 in cash for personal expenses. 30 Issued Check 1004 for $1,500 to pay the rent for September. 30 Performed services for $2,550 in cash. 30 Paid $415 for monthly telephone bill, Check 1005. Prepare journal entries for the transactions incurred during September of 2019.

Question

Business

Janessa Harrell

11 April, 15:17

1 Zack Mason invested $56,000 in cash to start the firm. 4 Purchased office equipment for $6,100 on credit from Den, Inc.; received Invoice 9823, payable in 30 days. 16 Purchased an automobile that will be used to visit clients; issued Check 1001 for $14,100 in full payment. 20 Purchased supplies for $480; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $150. 30 Issued Check 1003 for $3,800 to Den, Inc., as payment on account for Invoice 9823. 30 Withdrew $2,600 in cash for personal expenses. 30 Issued Check 1004 for $1,500 to pay the rent for September. 30 Performed services for $2,550 in cash. 30 Paid $415 for monthly telephone bill, Check 1005. Prepare journal entries for the transactions incurred during September of 2019.

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Answers (1)

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Haylie Ibarra · Answer 1

1.09

Dr Cash 56000

Cr Capital to Zack Mason 56000

4.09

Dr Office equipment 6100

Cr Accounts payable 6100

16.09

Dr Automobile 14,100

Cr Cash 14,100

20.09

Dr Supplies 480

Cr Cash 480

23.09

Dr Cash 150

Cr Supplies 150

30.09

Dr Accounts payable 3800

Cr Cash 3800

Dr withdrawal 2600

Cr Cash 2600

Dr rent expense 1500

Cr Cash 1500

Dr Cash 2550

Cr Income from services 2550

Dr Telephone expense 415

Cr Cash 415