Answer to Question #289188 in Other for basic nu

Question

Given below is a list of selected transactions performed by John Décor during the month of December 2017.

Dec. 1 Mr. John transferred cash from his personal account to the business 150,000.

“ 1 Paid five months’ rent in advance, 30,000

“ 1 Paid annual Insurance premium of 7,200

“ 11 Purchased a truck for 110,000 by paying 60,000 Cash and giving a notes payable for the difference.

“ 12 Purchased equipment on account, 11,000

“ 13 Purchased supplies on account 2400.

“ 14 Paid insurance premiums of 8100

“ 15 Received cash for services completed 36,000.

“ 18 Paid salaries of 9000.

“ 21 Paid its liabilities for the purchase of equipment made on December 12

“ 24 Provided Service on account, 52,000

“ 27 Paid utilities expense 12,500.

“ 28 Received cash from customers on account 24,000

“ 30 Paid salaries to employees 5,000

“ 30. The owner withdrew 2,000 for personal use.

Required:

a) Record the above transactions in General Journal & Post each entry.

Answer 1

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