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The company paid the monthly rent

The company paid the monthly rent

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need help turing these trasnactions into a journal entry.please don't give solution image format thanku
A B fx July Transactions 7/1 7/1 C Milk Sugar Cacao Butter D The company paid the monthly rent 2400 Paid on account for an ad in the local radio station for $900 Instructions Project Instructions E July General Journal F 7/2 Paid the first installment due for the purchase of the Ice Cream Equipment (total $3400) 7/5 Purchased the following inventory items: Description Quantity in LB Price 240 $ 2.95 190 $ 1.65 120 $ 3.75 130 $ 3.25 July T Account Ledger Total Cost $708.00 $313.50 $450.00 $422.50 G July FIFO 7/5 Incurred $75 of freight cost, which they paid in cash All the inventory left over from June and purchased July was fully utilized in making the ice cream in July 7/15 Paid in full the Furniture purchased on account in June. 7/15 Paid in full the cost of the laptop 7/15 Paid in full the cost of the QuickBooks software 7/30 Paid the salaries of the two employees for July 7/30 Collected $8,900 in cash sales H July Trial Balance I July Income Statement J July Balance Sheet + K L M
Transcribed Image Text:A B fx July Transactions 7/1 7/1 C Milk Sugar Cacao Butter D The company paid the monthly rent 2400 Paid on account for an ad in the local radio station for $900 Instructions Project Instructions E July General Journal F 7/2 Paid the first installment due for the purchase of the Ice Cream Equipment (total $3400) 7/5 Purchased the following inventory items: Description Quantity in LB Price 240 $ 2.95 190 $ 1.65 120 $ 3.75 130 $ 3.25 July T Account Ledger Total Cost $708.00 $313.50 $450.00 $422.50 G July FIFO 7/5 Incurred $75 of freight cost, which they paid in cash All the inventory left over from June and purchased July was fully utilized in making the ice cream in July 7/15 Paid in full the Furniture purchased on account in June. 7/15 Paid in full the cost of the laptop 7/15 Paid in full the cost of the QuickBooks software 7/30 Paid the salaries of the two employees for July 7/30 Collected $8,900 in cash sales H July Trial Balance I July Income Statement J July Balance Sheet + K L M
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