Journal Entry for 2 1 Paid 4000 for office rent for the mont
Journal Entry for
2/ 1 Paid $4,000 for office rent for the month.
2/ 3 Purchased on account supplies for $1,300.
2/ 4 Paid the $1,200 for January utilities.
2/ 7 Collected $4,500 from Mrs. Smith.
2/11 Completed a job for Mr. Ellis for $5,100 and collected the $5,100 from him.
2/28 completed a job for mr. putter and presented him with a bill for $6400
2/28 Paul withdrew $1,000 from the business and Sylvia withdrew $1,000.
2/28 Utilities for the month cost $1,500. (The bill will be paid in March.)
Supplies that had cost $800 were still on hand at the end of the month.
1) Prepare Journal entries for the month, including adjusting entries for depreciation and supplies
Solution
For depreciation and supplies ,Information regarding asset cost ,useful life ,salvage etc is missing.for supplies ,supplied used during the month is missing
| Date | Account | Debit | credit |
| 2/1 | Office rent expense | 4000 | |
| cash | 4000 | ||
| [rent paid] | |||
| 2/3 | Supplies | 1300 | |
| Accounts payable | 1300 | ||
| [Supplies purchased on account] | |||
| 2/4 | utilities expense payable | 1200 | |
| cash | 1200 | ||
| 2/7 | cash | 4500 | |
| Accounts receivable | 4500 | ||
| [Amount collected] | |||
| 2/11 | Cash | 5100 | |
| sales revenue | 5100 | ||
| 2/28 | Accounts receivable | 6400 | |
| sales revenue | 6400 | ||
| 2/28 | Paul drawings | 1000 | |
| Sylvia drawings | 1000 | ||
| cash | 2000 | ||
| 2/28 | Utilities expense | 1500 | |
| utilities expense payable | 1500 | ||
