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Edit View History Bookmarks Window Help ezto.mheducation.com Ch4HW how to credit reco transaction list urnal entry worksheet 8 10 17 Supplies of $4 were counted on December 31, 2015. Record the transaction. Note: Enter debits before credits

Solution

Journal entries of Alison and Chuck Renny for the year ended December 31,2015

Date

Journal Entry

Debit (in $)

Credit (in $)

31-12-2015

Supplies a/c

4

To Accounts payable

4

(Being supplies made on 31 dec 2015)

01-07-2015

Cash a/c

21

To Notes Payable

21

(Being cash borrowed and repayable through 6 months note payable)

02-07-2015

Plant and equipment a/c

18

To cash

18

(Being equipment purchased for cash)

03-07-2015

Cash a/c

5

To Common stock

5

(Being receipt of cash on issue of additional shares)

Date	Journal Entry	Debit (in $)	Credit (in $)
31-12-2015	Supplies a/c	4
	To Accounts payable		4
	(Being supplies made on 31 dec 2015)
01-07-2015	Cash a/c	21
	To Notes Payable		21
	(Being cash borrowed and repayable through 6 months note payable)
02-07-2015	Plant and equipment a/c	18
	To cash		18
	(Being equipment purchased for cash)
03-07-2015	Cash a/c	5
	To Common stock		5
	(Being receipt of cash on issue of additional shares)