On January 1, 2018, the general ledger of Dynamite Fireworks
includes the following account balances:
Accounts Debit Credit
Cash $ 23,800
Accounts Receivable 5,200
Supplies 3,100
Land 50,000
Accounts Payable 3,200
Common Stock 65,000
Retained Earning 13,900
Totals $ 82,100
$ 82,100
uring January 2018, the following transactions occur:
January 2. Purchase rental space for one year in advance,
$6,000 ($500/month).
January 9. Purchase additional supplies on account, $3,500.
January 13. Provide services to customers on account,
$25,500.
January 17. Receive cash in advance from customers for
services to be provided in the future, $3,700.
January 20. Pay cash for salaries, $11,500.
January 22. Receive cash on accounts receivable, $24,100.
January 29. Pay cash on accounts payable, $4,000.
Record each of the transactions listed above.
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