Record the following transactions in the general journal. January 2: Pedro Hernandez invested $10,000 to start an advertising agency January 2: Rented an office, paying two months' rent in advance, $800 January 3: Ordered art supplies, $1,800, and office supplies, $800 January 4: Purchased art equipment for $4,200 cash January 5: Purchased office equipment from Baskwell Equipment for $3,000, paying $1,500 in cash and agreeing to pay the rest next month January 6: Purchased on credit are supplies for $1,800 and office supplies for $800 from Robinson Supply Company January 8: Paid $480 for a one-year insurance policy with coverage effective January 1 January 9: Paid Robinson Supply Company $1,000 of the amount owed January 10: Performed a service by placing advertisements for an automobile dealer in the newspaper and collected a fee of $1,400 January 12: Paid the secretary two weeks' wages, $600 (Friday) January 15: Accepted $1,000 as an advance fee for are work to be done for another agency January 19: Performed a service by placing several major advertisements for Macy's Department Stores. The fee of $2,800 is billed now but will be collected next month. January 25: Pedro Hernandez withdrew $1,400 from the business for personal use. January 26: Paid the secretary two more weeks' wages, $600 (Friday) January 29: Received and paid the utility bill of $100 January 30: Received (but did not pay) a telephone bill, $70 January 31: One-half of prepaid rent had expired January 31: One-twelfth of prepaid insurance has expired January 31: Art supplies costing $1,300 is still on hand January 31: Office supplies costing $600 is still on hand January 31: Art equipment has a useful life of 5 years; calculate depreciation (1 month) January 31: Office equipment has a useful life of 5 years; calculate depreciation (1 month) January 31: $400 of the artwork was completed and accepted by the other agency January 31: Agreed to place advertisements for Diego Tire Co. on January 31 for $200 January 31: The secretary worked the last 3 days of January; record the accrued wages
Record the following transactions in the general journal.
January 2: Pedro Hernandez invested $10,000 to start an advertising agency
January 2: Rented an office, paying two months' rent in advance, $800
January 3: Ordered art supplies, $1,800, and office supplies, $800
January 4: Purchased art equipment for $4,200 cash
January 5: Purchased office equipment from Baskwell Equipment for $3,000, paying $1,500 in cash and agreeing to pay the rest next month
January 6: Purchased on credit are supplies for $1,800 and office supplies for $800 from Robinson Supply Company
January 8: Paid $480 for a one-year insurance policy with coverage effective January 1
January 9: Paid Robinson Supply Company $1,000 of the amount owed
January 10: Performed a service by placing advertisements for an automobile dealer in the newspaper and collected a fee of $1,400
January 12: Paid the secretary two weeks' wages, $600 (Friday)
January 15: Accepted $1,000 as an advance fee for are work to be done for another agency
January 19: Performed a service by placing several major advertisements for Macy's Department Stores. The fee of $2,800 is billed now but will be collected next month.
January 25: Pedro Hernandez withdrew $1,400 from the business for personal use.
January 26: Paid the secretary two more weeks' wages, $600 (Friday)
January 29: Received and paid the utility bill of $100
January 30: Received (but did not pay) a telephone bill, $70
January 31: One-half of prepaid rent had expired
January 31: One-twelfth of prepaid insurance has expired
January 31: Art supplies costing $1,300 is still on hand
January 31: Office supplies costing $600 is still on hand
January 31: Art equipment has a useful life of 5 years; calculate
January 31: Office equipment has a useful life of 5 years; calculate depreciation (1 month)
January 31: $400 of the artwork was completed and accepted by the other agency
January 31: Agreed to place advertisements for Diego Tire Co. on January 31 for $200
January 31: The secretary worked the last 3 days of January; record the accrued wages
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