Transactions Oct. 1 Paid rent for the month, $2,200. 4 Paid advertising expense, $550. 5 Paid cash for supplies, $1,200. 6 Purchased office equipment on account, $9,300. 12 Received cash from customers on account, $16,950. 20 Paid creditor on account, $3,500. 27 Paid cash for miscellaneous expenses, $520. 30 Paid telephone bill for the month, $325. 31 Fees earned and billed to customers for the month, $51,040. 31 Paid electricity bill for the month, $860. 31 Paid dividends, $1,500. Journalize the preceding selected transactions for October 20Y2 in a two-column journal. Refer to the Chart of Accounts for exact wording of account titles.

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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Question
ASSETS
REVENUE
11 Cash
41 Fees Earned
12 Accounts Receivable
13 Supplies
EXPENSES
14 Office Equipment
51 Rent Expense
52 Advertising Expense
LIABILITIES
53 Utilities Expense
21 Accounts Payable
54 Miscellaneous Expense
EQUITY
31 Common Stock
32 Retained Earnings
33 Dividends
Transcribed Image Text:ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies EXPENSES 14 Office Equipment 51 Rent Expense 52 Advertising Expense LIABILITIES 53 Utilities Expense 21 Accounts Payable 54 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends
Transactions
Oct.
1
Paid rent for the month, $2,200.
4
Paid advertising expense, $550.
Paid cash for supplies, $1,200.
6
Purchased office equipment on account, $9,300.
12
Received cash from customers on account, $16,950.
20
Paid creditor on account, $3,500.
27
Paid cash for miscellaneous expenses, $520.
30
Paid telephone bill for the month, $325.
31
Fees earned and billed to customers for the month, $51,040.
31
Paid electricity bill for the month, $860.
31
Paid dividends, $1,500.
Journalize the preceding selected transactions for October 20Y2 in a two-column journal. Refer to the Chart of Accounts for exact wording of account
titles.
Transcribed Image Text:Transactions Oct. 1 Paid rent for the month, $2,200. 4 Paid advertising expense, $550. Paid cash for supplies, $1,200. 6 Purchased office equipment on account, $9,300. 12 Received cash from customers on account, $16,950. 20 Paid creditor on account, $3,500. 27 Paid cash for miscellaneous expenses, $520. 30 Paid telephone bill for the month, $325. 31 Fees earned and billed to customers for the month, $51,040. 31 Paid electricity bill for the month, $860. 31 Paid dividends, $1,500. Journalize the preceding selected transactions for October 20Y2 in a two-column journal. Refer to the Chart of Accounts for exact wording of account titles.
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