Apr. 1.Paid rent on office for month, $4,200.2.Purchased office supplies on account, $1,090.5.Paid insurance premiums, $3,020.10.Received cash from clients on account, $20,980.15.Purchased land for a future building site for $75,500, paying $8,300 in cash and giving a note payable for the remainder.17.Paid creditors on account, $3,780.20.Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $170.23.Paid advertising expense, $1,680.Enter the following transactions on Page 19 of the two-column journal.27.Discovered an error in computing a commission; received cash from the sales person for the overpayment, $840.28.Paid automobile expense (including rental charges for an automobile), $1,260.29.Paid miscellaneous expenses, $380.30.Recorded revenue earned and billed to clients during the month, $25,180.30.Paid salaries and commissions for the month, $5,460.30.Withdrew cash for personal use, $840.30.Rented land purchased on April 15 to local merchants association for use as a parking lot in May and June, during a street rebuilding program; received advance payment of $2,520.

Name: Apr. 1.Paid rent on office for month, $4,200.2.Purchased office suppli
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Description: Apr. 1.Paid rent on office for month, $4,200.2.Purchased office supplies on account, $1,090.5.Paid insurance premiums, $3,020.10.Received cash from clients on account, $20,980.15.Purchased land for a future building site for $75,500, paying $8,300 in

Journal entry is the first step to record the transaction in the books of account. Journal entry has…

Answered: Apr. 1. Paid rent on office for month,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Apr. 1.	Paid rent on office for month, $4,200.
2.	Purchased office supplies on account, $1,090.
5.	Paid insurance premiums, $3,020.
10.	Received cash from clients on account, $20,980.
15.	Purchased land for a future building site for $75,500, paying $8,300 in cash
	and giving a note payable for the remainder.
17.	Paid creditors on account, $3,780.
20.	Returned a portion of the office supplies purchased on April 2, receiving
	full credit for their cost, $170.
23.	Paid advertising expense, $1,680.
Enter the following transactions on Page 19 of the two-column journal.
27.	Discovered an error in computing a commission; received cash from the sales person
	for the overpayment, $840.
28.	Paid automobile expense (including rental charges for an automobile), $1,260.
29.	Paid miscellaneous expenses, $380.
30.	Recorded revenue earned and billed to clients during the month, $25,180.
30.	Paid salaries and commissions for the month, $5,460.
30.	Withdrew cash for personal use, $840.
30.	Rented land purchased on April 15 to local merchants association for use as a parking lot in May and June, during a street rebuilding program; received advance payment of $2,520.

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