Create Journal Entries for the transactions and post them to T Accounts. 28. 4/2
ID: 2419506 • Letter: C
Question
Create Journal Entries for the transactions and post them to T Accounts.
28. 4/29 BPB paid $287 for auto repairs that occurred while photographing the remainder of the events for YBC. BPB billed YBC for $2500 for the work performed.
29. 5/3 BPB paid the phone bill
30. 5/8 BPB received payment in full from YBC
31. 5/15 BPB paid $1200 to Good Co.
32. 5/18 BPB obtained permission to photograph the Nicetown Highschool graduation on May 28th.
33. 5/20 BPB purchased $2500 of Photo supplies
34. 5/28 BPB photographed the graduation and received prepaid orders for $3600 of photos.
35. 5/29 BPB received a phone bill for $108
36. 5/31 BPB delivered $1200 of the graduation photos.
37. 6/3 BPB paid the phone bill
38. 6/8 BPB paid $1000 to Good Co.
39. 6/15 BPB participated in the County Fair with the following results:
a. Received prepaid orders of $5000 for photos to be delivered by the July 15th.
b. Sold prints of prior photos for $1400.
c. Paid $1500 for the rental of the booth.
d. Paid $491 for travel expenses.
40. 6/21 BPB delivered the remainder of the graduation photos.
41. 6/27 BPB received a phone bill for $211
42. 6/28 BPB delivered $1800 of the photos for the County Fair.
Explanation / Answer
Answer : Journal Entries
Date Account Debit Credit
4/29 Repair & Maintenance 287
Cash A/c 287
(Auto repaired expenses)
4/29 YBC 2500
Charges 2500
5/8 Cash a/c 2500
YBC 2500
5/15 Good Co. 1200
Cash A/c 1200
5/20 Inventory A/c 2500
Cash A/c 2500
(Photo Supplies cash purchase)
5/28 Cash A/c 3600
Advance Charges 3600
5/29 Phone Expenses 108
Phone Expenses payable 108
5/31 Advance charges 1200
Charges 1200
6/3 Phone Expenses Payable 108
Cash 108
6/8 Good Co. 1000
Cash 1000
6/15 Cash 5000
Advances Charges 5000
Cash 1400
Sale of Photo 1400
Rent A/c 1500
Travel expenses 491
Cash 1991
6/21 Advance Charges 2400
Charges 2400
6/27 Phone exp 211
Phone exp. Payable 211
6/28 Advance Charges 1800
Charges 1800
T Accounts
Repair & Maintenace a/c
YBC
Good Co.
Inventory
Advance Charges
Charges
Phone Expenses
Phone Expenses Payable
Sale of Photo
Rent A/c
Travelling a/c
Cash A/c
No. No. 1 287 Total 287