Required information [The following information applies to the questions displayed below.] Joan owns a lawn maintenance company, and Sally owns a machine repair shop. For the month of July, the following transactions occurred. July 3 July 6 July 9 July 14 Joan provides lawn services to Sally's repair shop on account, $300. One of Joan's mowers malfunctions. Sally provides repair services to Joan on account, $250. Sally pays $300 to Joan for lawn services provided on July 3. Sally borrows $400 from Joan by signing a note. Joan purchases advertising in a local newspaper for the remainder of July and pays cash, $120. Joan pays $250 to Sally for services provided on July 6. July 18 July 20 July 27 Sally performs repair services for other customers for cash, $600. July 30 Sally pays employee salaries for the month, $100. July 31 Sally pays $400 to Joan for money borrowed on July 14. Required: 1. Record each transaction for Sally's Repair Shop. Keep in mind that Sally may not need to record all transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) > Answer is not complete. No 1 Date July 03 General Journal Accounts Receivable Service Revenue 2 July 06 Repairs and Maintenance Expense Accounts Payable 3 July 09 Cash Accounts Receivable Debit Credit 300 300 250 250 300 300 4 July 14 Notes Receivable Cash 400 400 5 July 18 Advertising Expense 120 Cash 120 6 July 20 Accounts Payable Cash 250 250 7 July 27 No Journal Entry Required 8 July 30 No Journal Entry Required 6 July 31 Cash Notes Receivable × 400 400
Required information [The following information applies to the questions displayed below.] Joan owns a lawn maintenance company, and Sally owns a machine repair shop. For the month of July, the following transactions occurred. July 3 July 6 July 9 July 14 Joan provides lawn services to Sally's repair shop on account, $300. One of Joan's mowers malfunctions. Sally provides repair services to Joan on account, $250. Sally pays $300 to Joan for lawn services provided on July 3. Sally borrows $400 from Joan by signing a note. Joan purchases advertising in a local newspaper for the remainder of July and pays cash, $120. Joan pays $250 to Sally for services provided on July 6. July 18 July 20 July 27 Sally performs repair services for other customers for cash, $600. July 30 Sally pays employee salaries for the month, $100. July 31 Sally pays $400 to Joan for money borrowed on July 14. Required: 1. Record each transaction for Sally's Repair Shop. Keep in mind that Sally may not need to record all transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) > Answer is not complete. No 1 Date July 03 General Journal Accounts Receivable Service Revenue 2 July 06 Repairs and Maintenance Expense Accounts Payable 3 July 09 Cash Accounts Receivable Debit Credit 300 300 250 250 300 300 4 July 14 Notes Receivable Cash 400 400 5 July 18 Advertising Expense 120 Cash 120 6 July 20 Accounts Payable Cash 250 250 7 July 27 No Journal Entry Required 8 July 30 No Journal Entry Required 6 July 31 Cash Notes Receivable × 400 400
Chapter4: Income Exclusions
Section: Chapter Questions
Problem 53P
Related questions
Question
Hello, can you help me figure out what I am doing wrong? I have attatched my current answer and the options I have for each drop down line. Thanks!
Drop down options:
- No Journal Entry Required
- Accounts Payable
- Accounts Receivable
- Advertising Expense
- Buildings
- Cash
- Common Stock
- Deferred Revenue
- Delivery Expense
- Dividends
- Entertainment Expense
- Equipment
- Insurance Expense
- Interest Payable
- Interest Receivable
- Interest Revenue
- Inventory
- Land
- Legal Fees Expense
- Notes Payable
- Notes Receivable
- Prepaid Insurance
- Prepaid Rent
- Rent Expense
- Repairs and Maintenance Expense
- Retained Earnings
- Salaries Expense
- Salaries Payable
- Sales Revenue
- Service Fee Expense
- Service Revenue
- Supplies
- Supplies Expense
- Utilities Expense
- Utilities Payable
![Required information
[The following information applies to the questions displayed below.]
Joan owns a lawn maintenance company, and Sally owns a machine repair shop. For the month of July, the following
transactions occurred.
July 3
July 6
July 9
July 14
Joan provides lawn services to Sally's repair shop on account, $300.
One of Joan's mowers malfunctions. Sally provides repair services to Joan on account, $250.
Sally pays $300 to Joan for lawn services provided on July 3.
Sally borrows $400 from Joan by signing a note.
Joan purchases advertising in a local newspaper for the remainder of July and pays cash, $120.
Joan pays $250 to Sally for services provided on July 6.
July 18
July 20
July 27
Sally performs repair services for other customers for cash, $600.
July 30
Sally pays employee salaries for the month, $100.
July 31
Sally pays $400 to Joan for money borrowed on July 14.
Required:
1. Record each transaction for Sally's Repair Shop. Keep in mind that Sally may not need to record all transactions. (If no entry is
required for a transaction/event, select "No Journal Entry Required" in the first account field.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F96b32fde-407b-49e4-a18f-1c1f9aa1a58e%2Fb7063c50-9791-424b-acf9-31a83e2ea7ce%2Fzz4mf1_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Joan owns a lawn maintenance company, and Sally owns a machine repair shop. For the month of July, the following
transactions occurred.
July 3
July 6
July 9
July 14
Joan provides lawn services to Sally's repair shop on account, $300.
One of Joan's mowers malfunctions. Sally provides repair services to Joan on account, $250.
Sally pays $300 to Joan for lawn services provided on July 3.
Sally borrows $400 from Joan by signing a note.
Joan purchases advertising in a local newspaper for the remainder of July and pays cash, $120.
Joan pays $250 to Sally for services provided on July 6.
July 18
July 20
July 27
Sally performs repair services for other customers for cash, $600.
July 30
Sally pays employee salaries for the month, $100.
July 31
Sally pays $400 to Joan for money borrowed on July 14.
Required:
1. Record each transaction for Sally's Repair Shop. Keep in mind that Sally may not need to record all transactions. (If no entry is
required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Transcribed Image Text:> Answer is not complete.
No
1
Date
July 03
General Journal
Accounts Receivable
Service Revenue
2
July 06
Repairs and Maintenance Expense
Accounts Payable
3
July 09
Cash
Accounts Receivable
Debit
Credit
300
300
250
250
300
300
4
July 14
Notes Receivable
Cash
400
400
5
July 18
Advertising Expense
120
Cash
120
6
July 20
Accounts Payable
Cash
250
250
7
July 27
No Journal Entry Required
8
July 30
No Journal Entry Required
6
July 31
Cash
Notes Receivable
×
400
400
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT