ALEKS Prchase nstructions FIN 360 Spring 201aPIN 36OL SPna

ALEKS Prchase nstructions FIN 360 . Spring 201a·PIN 36OL SPna oor- LEKS rifin Douglas ALEKS Question #10 Journalize the following transactions into the general journal in accordance with the rules of Journalizing, and the Double-entry accounting system June 14 Coleman Company purchases land for $30,000 on account October 1 Coleman Company receives utility bill of $700 and pays it Credt ^ Clear Undo Help Next > I don\'t know MacBook Pro

Solution

Journal entries Date Account Titles Debit Credit Jun-14 Land $30,000 Accounts Payable $30,000 (to record purchase of land on account) Oct-01 Utility Expenses $700 Cash $700 (to record utility expenses)