Journal entries Crazy Mountain Tours Co. is a travel agency. The nine transactions recorded by Crazy Mountain Tours during May 2012, its first month of operations, are indicated in the following T accounts: (1) (7) (3) (9) (5) Cash 35,100 (2) 14,050 (3) (6) (6) (9) Equipment 25,300 Dividends 3.500 2,450 4,550 3,850 10,550 3,500 Accounts Receivable 18,950 (7) 14,050 Accounts Payable 10,550 (3) 20,750 Service Revenue 18,950

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Journal entries
Crazy Mountain Tours Co. is a travel agency. The nine transactions recorded by Crazy Mountain Tours during May 2012, its first month of operations, are indicated in the following T
accounts:
(1)
(7)
(3)
(9)
(5)
Cash
35,100 (2)
14,050 (3)
(6)
(6)
(9)
Equipment
25,300
Dividends
3.500
2,450
4,550
3,850
10,550
3,500
Accounts Receivable
18,950 (7) 14,050
Accounts Payable
10,550 (3) 20,750
Service Revenue
18,950
Transcribed Image Text:Journal entries Crazy Mountain Tours Co. is a travel agency. The nine transactions recorded by Crazy Mountain Tours during May 2012, its first month of operations, are indicated in the following T accounts: (1) (7) (3) (9) (5) Cash 35,100 (2) 14,050 (3) (6) (6) (9) Equipment 25,300 Dividends 3.500 2,450 4,550 3,850 10,550 3,500 Accounts Receivable 18,950 (7) 14,050 Accounts Payable 10,550 (3) 20,750 Service Revenue 18,950
(2)
(4)
(8)
Supplies
2,450 (8) 1,400
Common Stock
(1) 35,100
Operating Expenses
3,850
1,400
Prepare the nine journal entries from which the postings were ma
Debit Credit
Transaction
Account
Transcribed Image Text:(2) (4) (8) Supplies 2,450 (8) 1,400 Common Stock (1) 35,100 Operating Expenses 3,850 1,400 Prepare the nine journal entries from which the postings were ma Debit Credit Transaction Account
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