Create a Journal. Teofista Arenas recently established a business that will operate as ArenasCleaning Service. The transactions for February 2015 are presented below.AccountAssetsAccountRevenuenumbernumber110Cash410Cleaning RevenueExpense120Account receivableCleaning SuppliesPrepaid InsuranceCleaning EquipmentService VehicleRent expenseSalaries ExpenseAdvertising ExpenseTelephone ExpenseMiscellaneous Expense130510140520150530160540Liabilities550Note payableAccount payableOwner's equityArenas, CapitalArenas. Withdrawal210220310320Feb. 1Deposited P62,000 cash in bank account in the name of the new entity.Acquired cleaning supplies on account,P21,400.Acquired cleaning equipment on account. P15,600.Acquired an old service vehicle P47,000 for the business, paying P10,000cash, and financing the remaining P37,000 by issuing a note payable.7Paid rent office space for the month, P7,300.Received P31,800 cash for cleaning service rendered.10Paid for a newspaper advertising. P 1,700.12Paid for insurance for the next six months by recording prepaid insuranceP4,800.13Paid P9,000 on account.14Paid Miscellaneous expense, P2,200.15Billed customers P18,600 for cleaning services rendered.16Paid salaries, P8,400.Received P9,800 from customers billed on Feb. 15.2022Paid amount due on the note payable, P2,400.25Paid telephone expense, P900.28Paid salaries, P7,900.28Billed customers for cleaning service rendered, P22,500.28Withdrew P10,000 from the business.

Journal entries (JF) refers to reporting of the events into the original books of accounts as well…

Teofista Arenas recently established a business that will operate as Arenas Cleaning Service. The transactions for February 2015 are presented below. Account number Assets Account number Revenue | Cleaning Revenue Еxpense Rent expense Salaries Expense | Advertising Expense Telephone Expense Miscellaneous Expense 110 Cash 410 120 Account receivable 130 140 150 Cleaning Supplies Prepaid Insurance Cleaning Equipment Service Vehicle Liabilities 510 520 530 540 160 550 210 220 Note payable Account payable Owner's equity Arenas, Capital Arenas. Withdrawal 310 320

Teofista Arenas recently established a business that will operate as Arenas Cleaning Service. The transactions for February 2015 are presented below. Account number Assets Account number Revenue | Cleaning Revenue Еxpense Rent expense Salaries Expense | Advertising Expense Telephone Expense Miscellaneous Expense 110 Cash 410 120 Account receivable 130 140 150 Cleaning Supplies Prepaid Insurance Cleaning Equipment Service Vehicle Liabilities 510 520 530 540 160 550 210 220 Note payable Account payable Owner's equity Arenas, Capital Arenas. Withdrawal 310 320

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 7SEA

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