The October transactions were as follows.Oct. 5 Received $1,510 in cash from customers for accounts receivable due.10 Billed customers for services performed $5,050.15 Paid employee salaries $1,110.17 Performed $570 of services in exchange for cash.20 Paid $1,980 to creditors for accounts payable due.29 Paid a $300 cash dividend.31 Paid utilities $320. This is the trial balance of Cullumber Company on September 30.CULLUMBER COMPANYTrial BalanceSeptember 30, 2022DebitCreditCash$ 23,880Accounts Receivable7,280Supplies4,620Equipment10,520Accounts Payable$9,480Unearned Service3,620RevenueCommon Stock19,680Retained Earnings13,520$46,300$46,300The October transactions were as follows. Prepare a trial balance on October 31, 2022.CULLUMBER COMPANYTrial BalanceDebitCredit$%24%24

Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Answered: The October transactions were as…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Question

The October transactions were as follows.

Oct. 5		Received $1,510 in cash from customers for accounts receivable due.
10		Billed customers for services performed $5,050.
15		Paid employee salaries $1,110.
17		Performed $570 of services in exchange for cash.
20		Paid $1,980 to creditors for accounts payable due.
29		Paid a $300 cash dividend.
31		Paid utilities $320.

This is the trial balance of Cullumber Company on September 30.
CULLUMBER COMPANY
Trial Balance
September 30, 2022
Debit
Credit
Cash
$ 23,880
Accounts Receivable
7,280
Supplies
4,620
Equipment
10,520
Accounts Payable
$9,480
Unearned Service
3,620
Revenue
Common Stock
19,680
Retained Earnings
13,520
$46,300
$46,300
The October transactions were as follows.

Prepare a trial balance on October 31, 2022.
CULLUMBER COMPANY
Trial Balance
Debit
Credit
$
%24
%24

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

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