2. On June 7,Fun Toys paid their rent in cash. The amount of the rent was $1,569. On June 12, they received a large shipment of toys. They charged the amount of the toys which was $19,450. A fire broke out on the fifteenth and destroyed one of their delivery trucks. The value of the truck was $19,456. Insurance paid the full amount. On June 20, they paid their store insurance of $5,000 in cash.
2. On June 7,Fun Toys paid their rent in cash. The amount of the rent was $1,569. On June 12, they received a large shipment of toys. They charged the amount of the toys which was $19,450. A fire broke out on the fifteenth and destroyed one of their delivery trucks. The value of the truck was $19,456. Insurance paid the full amount. On June 20, they paid their store insurance of $5,000 in cash.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Image 1 is the information
Do #2 on image 2 plz
Transcribed Image Text:Loan for addition to store
2. On June 7, Fun Toys paid their rent in cash. The amount of the rent
was $1,569. On June 12, they received a large shipment of toys. They
charged the amount of the toys which was $19,450. A fire broke out
on the fifteenth and destroyed one of their delivery trucks. The value
of the truck was $19,456. Insurance paid the full amount. On June
20, they paid their store insurance of $5,000 in cash.
186 Managing Your Business
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Transcribed Image Text:Set up a general journal for each word problem. Remember to put the debits first and the credits last.
The first entry is done for you to show you how to set it up on notebook paper.
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