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    Exercise 2 For Service Journalizing: 1 Debit

    Uploaded by

    Zymon Andrew Maquinto
    This document contains 9 journal entries for a service business. The entries record various transactions including receiving cash from services, purchasing equipment using cash, taking out a loan, receiving payment on accounts receivable, paying salaries and benefits in cash, withdrawing cash from the business, paying licensing fees in cash, and prepaying insurance.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Exercise 2 For Service Journalizing: 1 Debit

    Uploaded by

    Zymon Andrew Maquinto
    19 views1 page
    This document contains 9 journal entries for a service business. The entries record various transactions including receiving cash from services, purchasing equipment using cash, taking out a loan, receiving payment on accounts receivable, paying salaries and benefits in cash, withdrawing cash from the business, paying licensing fees in cash, and prepaying insurance.

    Original Title

    JOURNALIZING-2_KEY

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    This document contains 9 journal entries for a service business. The entries record various transactions including receiving cash from services, purchasing equipment using cash, taking out a loan, receiving payment on accounts receivable, paying salaries and benefits in cash, withdrawing cash from the business, paying licensing fees in cash, and prepaying insurance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    19 views1 page

    Exercise 2 For Service Journalizing: 1 Debit

    Uploaded by

    Zymon Andrew Maquinto
    This document contains 9 journal entries for a service business. The entries record various transactions including receiving cash from services, purchasing equipment using cash, taking out a loan, receiving payment on accounts receivable, paying salaries and benefits in cash, withdrawing cash from the business, paying licensing fees in cash, and prepaying insurance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    EXERCISE 2 FOR SERVICE JOURNALIZING

    1 Debit Cash On Hand 1200

    Credit Service Income 1200

    2 Debit Accounts Receivable 4200

    Credit Service Income 4200

    3 Debit Plant Property Equipment 30,000

    Credit Cash On Hand 30,000

    4 Debit Cash In Bank 30,000


    Credit Notes Payable 30,000

    5 Debit Notes Receivable 1,200


    Credit Service Income 1,200

    6 Debit Salaries Expense 16,500

    Debit Employee Bene ts 7,200

    Credit Cash On Hand 23,700

    7 Debit Drawings 6,000

    Credit Cash On Hand 6,000

    8 Debit Licensing & Permits Expense 350


    Credit Cash On Hand 350

    9 Debit Insurance Expense 1,250


    Prepaid Insurane 1,250

    1
    
    fi

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