The following transactions took place at the Cook Employment Agency during November 20X1. DATE TRANSACTIONS Nov. 5 Performed services for Job Search, Inc., for $36,000; received $17,000 in cash and the client promised to pay the balance in 60 days. 18 Purchased a graphing calculator for $405 and some supplies for $555 from Office Supply; issued Check 1008 for the total. 23 Received Invoice 1602 for $1,900 from Automotive Technicians Repair for repairs to the firm's automobile; issued Check 1009 for half the amount and arranged to pay the other half in 30 days. Prepare journal entries for the above transactions. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Nov 05, 20X1 Accounts receivable 19,000 Cash 17,000 2 Nov 18, 20X1 Supplies Supplies expense Nov 23, 20X1 Automobile expense 555 1,900

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question

pvn.2

 

 

The following transactions took place at the Cook Employment Agency during November 20X1.
DATE
Nov.
TRANSACTIONS
5 Performed services for Job Search, Inc., for $36,000; received $17,000 in cash and the client promised to pay
the balance in 60 days.
18 Purchased a graphing calculator for $405 and some supplies for $555 from Office Supply; issued Check 1008 for
the total.
23 Received Invoice 1602 for $1,900 from Automotive Technicians Repair for repairs to the firm's automobile;
issued Check 1009 for half the amount and arranged to pay the other half in 30 days.
Prepare journal entries for the above transactions.
View transaction list
View journal entry worksheet
No
Date
General Journal
Debit
Credit
1
Nov 05, 20X1
Accounts receivable
19,000
Cash
17,000
2
Nov 18, 20X1
Supplies
Supplies expense
3
Nov 23, 20X1
Automobile expense
555
1,900
Transcribed Image Text:The following transactions took place at the Cook Employment Agency during November 20X1. DATE Nov. TRANSACTIONS 5 Performed services for Job Search, Inc., for $36,000; received $17,000 in cash and the client promised to pay the balance in 60 days. 18 Purchased a graphing calculator for $405 and some supplies for $555 from Office Supply; issued Check 1008 for the total. 23 Received Invoice 1602 for $1,900 from Automotive Technicians Repair for repairs to the firm's automobile; issued Check 1009 for half the amount and arranged to pay the other half in 30 days. Prepare journal entries for the above transactions. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Nov 05, 20X1 Accounts receivable 19,000 Cash 17,000 2 Nov 18, 20X1 Supplies Supplies expense 3 Nov 23, 20X1 Automobile expense 555 1,900
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Completing the Accounting Cycle
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education