On November 1, 20Y9, Lexi Martin established an interior decorating business, Heritage Designs. During the month, Lexi completed the following transctions related to the business: Nov. 1 Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $50,000.1 Paid rent for period of November 1 to end of month, $4,000.6 Purchased office equipment on account, $15,000.8 Purchased a truck for $38,500 paying $5,000 cash and giving a note payable for the remainder. 1Purchased supplies for cash, $1,750.01Received cash for job completed, $11,500. 15 Paid annual premiums on property and casualty insurance, $2,400. 23 Recorded jobs completed on account and sent invoices to customers, $22,300.24 Received an invoice for truck expenses, to be paid in November, $1,250. Enter the following transactions on Page 2 of the two-column journal:Nov. 29 Paid utilities expense, $4,500.29 Paid miscellaneous expenses, $1,000.30 Received cash from customers on account, $9,000.30 Paid wages of employees, $6,800.30 Paid creditor a portion of the amount owed for equipment purchased on November 6, $3,000.30 Paid dividends, $2,500. how it Journal
On November 1, 20Y9, Lexi Martin established an interior decorating business, Heritage Designs. During the month, Lexi completed the following transctions related to the business:
No
v. 1 Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $50,000.
1 Paid rent for period of November 1 to end of month, $4,000.
6 Purchased office equipment on account, $15,000.
8 Purchased a truck for $38,500 paying $5,000 cash and giving a note payable for the remainder.
1
Purchased supplies for cash, $1,750.
0
1
Received cash for job completed, $11,500.
1
5 Paid annual premiums on property and casualty insurance, $2,400.
2
3 Recorded jobs completed on account and sent invoices to customers, $22,300.
2
4 Received an invoice for truck expenses, to be paid in November, $1,250.
Enter the following transactions on Page 2 of the two-column journal:
Nov. 29 Paid utilities expense, $4,500.
29 Paid miscellaneous expenses, $1,000.
30 Received cash from customers on account, $9,000.
30 Paid wages of employees, $6,800.
30 Paid creditor a portion of the amount owed for equipment purchased on November 6, $3,000.
30 Paid dividends, $2,500. how it Journal
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