Im lost, how do you journalize transactions into a two column journal. Where to
ID: 2442296 • Letter: I
Question
Im lost, how do you journalize transactions into a two column journal. Where to start?
The following transactions were completed during the first week of December
Dec 1 Macy Jarvic transferred additional cash from a personal bank account for the business, $10,000.
Dec 1 Paid creditor on account, $2,000.
Dec 2 Purchased Equipment on account, $10,000.
Dec 2 Paid utilities expense for the month, $500.
Dec 3 Macy Jarvic transferred additional cash from a personal bank account for the business, $10,000.
Dec 4 Purchased equipment for cash $1,000.
Dec 4 Purchased supplies on account, $200.
Dec 5 Macy Jarvic withdrew cash for personal use, $5,000.
Dec 5 Received cash of $8,000 from customers on account.
Dec 6 Received cash of $12,000 for jobs completed for cash customers.
Dec 7 Completed jobs and billed to charge customers for the week $10,000.
Dec 7 Paid salary expense of $8,000.
I was trying to attach the assignment but I dont see where to attach it so whomever can see the actual assignment.
Explanation / Answer
1. cash 10000 debit capital 10000 credit 2. account payable 2000 debit cash credit 3. equipment 10000 debit account payable 10000 credit 4. utilities expence 500 debit cash 500 credit 5. cash 10000 debit capital 10000 credit 6. equipment 1000 debit cash 1000 credit 7. supplies 200 debit account payable 200 credit 8.capital 5000 debit-went down cash 5000 credit 9.cash 8000 debit account receivable 8000 credit 10. cash 12000 debit service revenue 12000 credit 11. account receivable 10000 debit service revenue 10000 credit 12. salary expence 8000 debit cash 8000 credit