Mathematics, 18.03.2021 03:10 emmabarnett817
Record the following selected transactions for January in a two‐column journal.
(a) Earned $7,000 fees; customer will pay later.
(b) Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit
(c) Paid $3,000 for rent for January.
(d) Purchased $2,500 of supplies on account.
(e) A. Allen $1,000 investment in the company.
(f) Received $7,000 in cash for fees earned previously.
(g) Paid $1,200 to creditors on account.
(h) Paid wages of $6,250.
(i) Received $7,150 from customers on account.
(j) A. Allen withdrawal of $1,750.
4. For part (j), which accounts are affected?
A. Supplies, Allen, Capital and Cash
B. Accounts Receivable and Cash
C. Cash and Accounts Receivable
D. Allen, Withdrawal and Cash
Answers: 3
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Answers: 2
Record the following selected transactions for January in a two‐column journal.
(a) Earned $7,000 f...
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