On April 1, 2020, Neal Chianese established an interior decorating business Neal Designs. During the month, Neal completed the following transactions related to the business. Use the following chart of accounts to journalize each transaction in this quiz. 11 Cash 12 Accounts receivable 14 Computer supplies 15 Prepaid rent 18 21 23 31 32 41 51 52 Chart of Accounts DATE 4/1 Equipment Account payable Notes payable Neal Chianese, Capital Neal Chianese, Drawing Fees earned April 1: Neal transferred cash from a personal bank account to an account used for the business, $20,000. Wages expense Rent expense DATE 4/2 QUESTION 3 April 2: Paid two month's rent, $1,400. Debit Debit Credit Credit
On April 1, 2020, Neal Chianese established an interior decorating business Neal Designs. During the month, Neal completed the following transactions related to the business. Use the following chart of accounts to journalize each transaction in this quiz. 11 Cash 12 Accounts receivable 14 Computer supplies 15 Prepaid rent 18 21 23 31 32 41 51 52 Chart of Accounts DATE 4/1 Equipment Account payable Notes payable Neal Chianese, Capital Neal Chianese, Drawing Fees earned April 1: Neal transferred cash from a personal bank account to an account used for the business, $20,000. Wages expense Rent expense DATE 4/2 QUESTION 3 April 2: Paid two month's rent, $1,400. Debit Debit Credit Credit
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 10PB: Prepare journal entries to record the following transactions. Create a T-account for Accounts...
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Subject :- Accounting
![On April 1, 2020, Neal Chianese established an interior decorating business Neal Designs. During the month, Neal completed the following transactions
related to the business. Use the following chart of accounts to journalize each transaction in this quiz.
11
Cash
12
Accounts receivable
14 Computer supplies
15 Prepaid rent
18
21
23
31
32
41
51
52
Chart of Accounts
DATE
4/1
Equipment
Account payable
Notes payable
Neal Chianese, Capital
Neal Chianese, Drawing
Fees earned
April 1: Neal transferred cash from a personal bank account to an account used for the business, $20,000.
Wages expense
Rent expense
DATE
4/2
QUESTION 3
April 2: Paid two month's rent, $1,400.
Debit
Debit
Credit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd7b6ce77-7d1f-42c7-90fc-6e082dc1db1b%2Fe71920c8-4b1e-4a2a-b0dc-d46a983b5b8f%2Fo25zee_processed.png&w=3840&q=75)
Transcribed Image Text:On April 1, 2020, Neal Chianese established an interior decorating business Neal Designs. During the month, Neal completed the following transactions
related to the business. Use the following chart of accounts to journalize each transaction in this quiz.
11
Cash
12
Accounts receivable
14 Computer supplies
15 Prepaid rent
18
21
23
31
32
41
51
52
Chart of Accounts
DATE
4/1
Equipment
Account payable
Notes payable
Neal Chianese, Capital
Neal Chianese, Drawing
Fees earned
April 1: Neal transferred cash from a personal bank account to an account used for the business, $20,000.
Wages expense
Rent expense
DATE
4/2
QUESTION 3
April 2: Paid two month's rent, $1,400.
Debit
Debit
Credit
Credit
![April 5: Purchased a used truck for $31,000, paying $6,000 cash and giving a note payable for the remainder.
DATE
4/5
QUESTION 5
April 12: Earned $17,000 in fees and billed customers.
DATE
4/12
QUESTION 6
April 30: Paid creditors on account, $1,350.
DATE
4/30
Debit
Debit
Debit
Credit
Credit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd7b6ce77-7d1f-42c7-90fc-6e082dc1db1b%2Fe71920c8-4b1e-4a2a-b0dc-d46a983b5b8f%2Fqmvi32m_processed.png&w=3840&q=75)
Transcribed Image Text:April 5: Purchased a used truck for $31,000, paying $6,000 cash and giving a note payable for the remainder.
DATE
4/5
QUESTION 5
April 12: Earned $17,000 in fees and billed customers.
DATE
4/12
QUESTION 6
April 30: Paid creditors on account, $1,350.
DATE
4/30
Debit
Debit
Debit
Credit
Credit
Credit
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