Answer to Question #303467 in Accounting for Linh

Question

On June 5 of the current year, Adam established an interior decorating business, AA Designs. During the remainder of the month, Adam completed the following transactions related to the business. June 5Adam transferred cash from a personal bank account to an account to be used for the business, $18,000

- Paid rent for period of June 6 to end of the month $2,000

-Purchased office equipment on account $10,500

-Purchased a used truck for $18,000, paying $10,000 cash and taking a bank loan for the remainder

-Purchased supplies for cash $1,315

-Received cash for job completed $7,300

- Paid annual premium on property insurance $1,200

Requirement: Journalise the transactions during the month.

Answer 1

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