Create journal entries for the following: 1) Paid cash for advertising expense in the amount of $200 on Jan. 1, 2021 2) Paid cash for utilities expense in the amount of $150 on Jan 1, 2021 3) Bought store supplies on credit with Office Depot in the amount of $250 on Jan 2, 2021 4) Sold merchandise on account with XYZ Corporation in the amount of $1,000 on Jan 3, 2021 5) Sold merchandise for cash in the amount of $500 on Jan 3, 2021 6) Paid cash for employee salary in the amount of $750 on Jan 4, 2021 7) Bought merchandise on account with ABC Corporation in the amount of $1,250 on Jan 5, 2021 8) Paid cash for office supplies in the amount of $300 on Jan 5, 2021 9) Purchased equipment on account with John Deere Co. in the amount of $3500 on Jan 6, 2021 10) Received $4,000 cash in advance for services not yet earned on Jan 9, 2021
Instructions: Create
1) Paid cash for advertising expense in the amount of $200 on Jan. 1, 2021
2) Paid cash for utilities expense in the amount of $150 on Jan 1, 2021
3) Bought store supplies on credit with Office Depot in the amount of $250 on Jan 2, 2021
4) Sold merchandise on account with XYZ Corporation in the amount of $1,000 on Jan 3, 2021
5) Sold merchandise for cash in the amount of $500 on Jan 3, 2021
6) Paid cash for employee salary in the amount of $750 on Jan 4, 2021
7) Bought merchandise on account with ABC Corporation in the amount of $1,250 on Jan 5, 2021
8) Paid cash for office supplies in the amount of $300 on Jan 5, 2021
9) Purchased equipment on account with John Deere Co. in the amount of $3500 on Jan 6, 2021
10) Received $4,000 cash in advance for services not yet earned on Jan 9, 2021
Notes:
Also, a word to keep in mind, there should be a debit entry AND a credit entry!
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