Journalize the following transactions for the month of July: July 1 K. Elliot deposited $10,000 in the bank in the name of the business (Elliot Company). 2 The business paid the monthly office rent, $500. 3 The business purchased office equipment on account, $1,500. 5 The business received consulting fees of, $750. 18 The business paid the monthly telephone bill, $75. 25 K. Elliot withdrew $200 for personal use. 30 The business purchased supplies for $1,000, paying $500 in cash and the rest on account. For a compound transaction, If an amount box does not require an entry, leave it blank.
Journalize the following transactions for the month of July: July 1 K. Elliot deposited $10,000 in the bank in the name of the business (Elliot Company). 2 The business paid the monthly office rent, $500. 3 The business purchased office equipment on account, $1,500. 5 The business received consulting fees of, $750. 18 The business paid the monthly telephone bill, $75. 25 K. Elliot withdrew $200 for personal use. 30 The business purchased supplies for $1,000, paying $500 in cash and the rest on account. For a compound transaction, If an amount box does not require an entry, leave it blank.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journalize the following transactions for the month of July:
| July 1 | K. Elliot deposited $10,000 in the bank in the name of the business (Elliot Company). |
| 2 | The business paid the monthly office rent, $500. |
| 3 | The business purchased office equipment on account, $1,500. |
| 5 | The business received consulting fees of, $750. |
| 18 | The business paid the monthly telephone bill, $75. |
| 25 | K. Elliot withdrew $200 for personal use. |
| 30 | The business purchased supplies for $1,000, paying $500 in cash and the rest on account. |
For a compound transaction, If an amount box does not require an entry, leave it blank.
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