10/6/2015

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32/32

Points

100

1/5

10/6/2015

1.

AssignmentPrintView

Award: 2 out of 2.00 points

Exercise 4.1 Analyzing transactions. LO 4-1

TRANSACTIONS
1. Gave a cash refund of $1,500 to a customer because of a lost package. (The customer had
previouslypaidincash.)
2. Sentacheckfor$2,100totheutilitycompanytopaythemonthlybill.
3. Providedservicesfor$15,600oncredit.
4. Purchasednewequipmentfor$9,200andpaidforitimmediatelybycheck.
5. Issuedacheckfor$7,000topayacreditoronaccount.
6. Performedservicesfor$10,500incash.
7. Collected$12,500fromcreditcustomers.
8. Theownermadeanadditionalinvestmentof$50,000incash.
9. Purchasedsuppliesfor$6,500oncredit.
10. Issuedacheckfor$7,500topaythemonthlyrent.

Analyzetheabovetransactionsandrecordajournalentryforeachtransaction.

Transactions
1

GeneralJournal
Feesincome

Debit
1,500

Cash
2

Utilitiesexpense

1,500
2,100

Cash
3

Accountsreceivable

2,100
15,600

Feesincome
4

Equipment

15,600
9,200

Cash
5

Accountspayable
Cash

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Credit

9,200
7,000
7,000

2/5