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
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/

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