Below are individual unrelated transactions from various companies. Record each transaction in the General Journal directly below it. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). a) March 22: $300 of commissions were earned and collected today by Perry Sales. b) April 6: The Party Place provided $1,000 of consulting services for a customer who will pay within 30 days c) May 5: Seaside Sales used $750 cash and $2,750 credit to purchase new equipment worth $3,500. d) July 12: Biotech Company returned to the supplier $1,750 of equipment discovered to be defective. It was originally purchased on account in an earlier transaction. e) July 22: The bill for the $500 advertising campaign that ran last week was received today and paid f) August 20: One of JenStar's clients rented equipment today for $800 on credit. g) August 21: Swan Furnace Cleaners paid $2,000 for equipment purchased today. h) August 22: $1,700 in dividends were declared and paid to the shareholders of the business. i) August 22: $600 of furniture purchased on credit in an earlier transaction was found to be damaged. XYZ Co. returned it to the supplier. j) September 6: $2,000 of furniture purchased on credit in an earlier transaction was found to be damaged. Sundown Co. returned it to the supplier k) October 14: Jack Tasker, a shareholder of Universal Maintenance Co., received share capital after investing furniture worth $3,000 and a building worth $18,000 into the business I) October 24: The bill for the $1,000 advertising campaign that ran last week was received today and paid. m) November 25: Z-Mart will pay this month's utilities bill of $450 received today, within 30 days. n) December 7: The company you work for, Trex, paid $1,000 towards the bill from an earlier transaction. o) December 25: The company you work for, NorthCo, paid $800 towards the bill from an earlier transaction.

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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answer in text form please (without image), Note: .Every entry should have narration please
Below are individual unrelated transactions from various companies. Record each transaction in the General Journal directly below it.
Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan).
a) March 22: $300 of commissions were earned and collected today by Perry Sales.
b) April 6: The Party Place provided $1,000 of consulting services for a customer who will pay within 30 days
c) May 5: Seaside Sales used $750 cash and $2,750 credit to purchase new equipment worth $3,500.
d) July 12: Biotech Company returned to the supplier $1,750 of equipment discovered to be defective. It was originally purchased on account in an earlier transaction.
e) July 22: The bill for the $500 advertising campaign that ran last week was received today and paid
f) August 20: One of JenStar's clients rented equipment today for $800 on credit.
g) August 21: Swan Furnace Cleaners paid $2,000 for equipment purchased today.
h) August 22: $1,700 in dividends were declared and paid to the shareholders of the business.
i) August 22: $600 of furniture purchased on credit in an earlier transaction was found to be damaged. XYZ Co. returned it to the supplier.
j) September 6: $2,000 of furniture purchased on credit in an earlier transaction was found to be damaged. Sundown Co. returned it to the supplier
k) October 14: Jack Tasker, a shareholder of Universal Maintenance Co., received share capital after investing furniture worth $3,000 and a building worth $18,000 into the business
I) October 24: The bill for the $1,000 advertising campaign that ran last week was received today and paid.
m) November 25: Z-Mart will pay this month's utilities bill of $450 received today, within 30 days.
n) December 7: The company you work for, Trex, paid $1,000 towards the bill from an earlier transaction.
o) December 25: The company you work for, NorthCo, paid $800 towards the bill from an earlier transaction.
Transcribed Image Text:Below are individual unrelated transactions from various companies. Record each transaction in the General Journal directly below it. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). a) March 22: $300 of commissions were earned and collected today by Perry Sales. b) April 6: The Party Place provided $1,000 of consulting services for a customer who will pay within 30 days c) May 5: Seaside Sales used $750 cash and $2,750 credit to purchase new equipment worth $3,500. d) July 12: Biotech Company returned to the supplier $1,750 of equipment discovered to be defective. It was originally purchased on account in an earlier transaction. e) July 22: The bill for the $500 advertising campaign that ran last week was received today and paid f) August 20: One of JenStar's clients rented equipment today for $800 on credit. g) August 21: Swan Furnace Cleaners paid $2,000 for equipment purchased today. h) August 22: $1,700 in dividends were declared and paid to the shareholders of the business. i) August 22: $600 of furniture purchased on credit in an earlier transaction was found to be damaged. XYZ Co. returned it to the supplier. j) September 6: $2,000 of furniture purchased on credit in an earlier transaction was found to be damaged. Sundown Co. returned it to the supplier k) October 14: Jack Tasker, a shareholder of Universal Maintenance Co., received share capital after investing furniture worth $3,000 and a building worth $18,000 into the business I) October 24: The bill for the $1,000 advertising campaign that ran last week was received today and paid. m) November 25: Z-Mart will pay this month's utilities bill of $450 received today, within 30 days. n) December 7: The company you work for, Trex, paid $1,000 towards the bill from an earlier transaction. o) December 25: The company you work for, NorthCo, paid $800 towards the bill from an earlier transaction.
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