2. Record the entry to pay \$7,16 for salaries and wages for the month of June. 3. Record the entry to pay $768 in advance for July rent 4. Record the entry for \$19,200 services provided on accont 5. Record the entry for $1,280 cash used to pay off accounts payable. 6. Record the entry for $336 cash received from customers as deposits for future services. 7. Record the entry for receipt of \$2,400 bill for plumber services which will not be paid until July. 8. Record the entry of purchase of equipment for \$1,248 cash.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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2. Record the entry to pay \$7,16 for salaries and wages for the month of June. 3. Record the entry to pay $768 in advance for July rent 4. Record the entry for \$19,200 services provided on accont 5. Record the entry for $1,280 cash used to pay off accounts payable. 6. Record the entry for $336 cash received from customers as deposits for future services. 7. Record the entry for receipt of \$2,400 bill for plumber services which will not be paid until July. 8. Record the entry of purchase of equipment for \$1,248 cash.
**Arthur Industries’ June Transactions**

**Overview:**
Arthur Industries entered into the following transactions during the month of June:

1. **Purchase of Supplies**
   - **Transaction A:** Purchased supplies for $8,000 cash.
2. **Payment of Salaries and Wages**
   - **Transaction B:** Paid $7,168 for salaries and wages for the month of June.
3. **Advance Payment for July Rent**
   - **Transaction C:** Paid $768 in advance for July rent.
4. **Service Revenue**
   - **Transaction D:** Provided $19,200 in services on account.
5. **Payment of Accounts Payable**
   - **Transaction E:** Paid $1,280 on accounts payable.
6. **Customer Deposits for Future Services**
   - **Transaction F:** Received $336 from customers as deposits for future services.
7. **Plumbing Bill**
   - **Transaction G:** Received a bill for $2,400 from the plumber who repaired a broken pipe in the restrooms but will not pay the bill until July.
8. **Purchase of Equipment**
   - **Transaction H:** Purchased equipment for cash of $1,248.

**Requirement:**
For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

**Journal Entry Worksheet:**

*Example Journal Entry Worksheet Format:*

| Transaction | General Journal     | Debit   | Credit  |
|-------------|---------------------|---------|---------|
| A           | Supplies            | $8,000  |         |
|             | Cash                |         | $8,000  |
| B           | Salaries and Wages  | $7,168  |         |
|             | Cash                |         | $7,168  |
| C           | Prepaid Rent        | $768    |         |
|             | Cash                |         | $768    |
| D           | Accounts Receivable | $19,200 |         |
|             | Service Revenue     |         | $19,200 |
| E           | Accounts Payable    | $1,280  |         |
|             | Cash                |         | $1,280  |
| F           | Cash                | $336    |         |
|             | Unearned Revenue    |         | $336    |
| G           | Repairs Expense     |
Transcribed Image Text:**Arthur Industries’ June Transactions** **Overview:** Arthur Industries entered into the following transactions during the month of June: 1. **Purchase of Supplies** - **Transaction A:** Purchased supplies for $8,000 cash. 2. **Payment of Salaries and Wages** - **Transaction B:** Paid $7,168 for salaries and wages for the month of June. 3. **Advance Payment for July Rent** - **Transaction C:** Paid $768 in advance for July rent. 4. **Service Revenue** - **Transaction D:** Provided $19,200 in services on account. 5. **Payment of Accounts Payable** - **Transaction E:** Paid $1,280 on accounts payable. 6. **Customer Deposits for Future Services** - **Transaction F:** Received $336 from customers as deposits for future services. 7. **Plumbing Bill** - **Transaction G:** Received a bill for $2,400 from the plumber who repaired a broken pipe in the restrooms but will not pay the bill until July. 8. **Purchase of Equipment** - **Transaction H:** Purchased equipment for cash of $1,248. **Requirement:** For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) **Journal Entry Worksheet:** *Example Journal Entry Worksheet Format:* | Transaction | General Journal | Debit | Credit | |-------------|---------------------|---------|---------| | A | Supplies | $8,000 | | | | Cash | | $8,000 | | B | Salaries and Wages | $7,168 | | | | Cash | | $7,168 | | C | Prepaid Rent | $768 | | | | Cash | | $768 | | D | Accounts Receivable | $19,200 | | | | Service Revenue | | $19,200 | | E | Accounts Payable | $1,280 | | | | Cash | | $1,280 | | F | Cash | $336 | | | | Unearned Revenue | | $336 | | G | Repairs Expense |
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