Red River Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $10,000 on account. 2. September 8 Purchase painting equipment for $11,000 cash. 3. September 12 Purchase office supplies on account for $1,500. 4. September 15 Pay employee salaries of $2,200 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,100 cash. 6. September 22 Pay office rent of $3,400 for the current month. 7. September 26 Receive $5,000 from customers in (1) above. 8. September 30 Receive cash of $4,000 in advance from a customer who plans to have his house painted in the following month.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Subject: calculus 

 

 

 

Exercise 2-20 (Algo) Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5,
2-6) (GL)
Red River Painting Company Incurs the following transactions for September.
1. September 3 Paint houses in the current month for $10,000 on account.
2. September 8 Purchase painting equipment for $11,eee cash.
3. September 12 Purchase office supplies on account for $1,500.
4. September 15 Pay employee salaries of $2,200 for the current month.
5. September 19 Purchase advertising to appear in the current month for $1,100 cash.
6. September 22 Pay office rent of $3,400 for the current month.
7. September 26 Receive $5,000 from customers in (1) above.
8. September 30 Receive cash of $4,000 in advance from a customer who plans to have his house painted in the following month.
Requirement
General
Journal
General
Ledger
View transaction list
Trial Balance
Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first
account field.).
Transcribed Image Text:Exercise 2-20 (Algo) Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6) (GL) Red River Painting Company Incurs the following transactions for September. 1. September 3 Paint houses in the current month for $10,000 on account. 2. September 8 Purchase painting equipment for $11,eee cash. 3. September 12 Purchase office supplies on account for $1,500. 4. September 15 Pay employee salaries of $2,200 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,100 cash. 6. September 22 Pay office rent of $3,400 for the current month. 7. September 26 Receive $5,000 from customers in (1) above. 8. September 30 Receive cash of $4,000 in advance from a customer who plans to have his house painted in the following month. Requirement General Journal General Ledger View transaction list Trial Balance Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.).
Journal entry worksheet
<
2 3
Paint houses in the current month for $10,000 on account.
Note: Enter debits before credits.
Date
September 03
4 5 6 7
Account Title
8
Debit
Credit
L
Transcribed Image Text:Journal entry worksheet < 2 3 Paint houses in the current month for $10,000 on account. Note: Enter debits before credits. Date September 03 4 5 6 7 Account Title 8 Debit Credit L
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