You are presented with the following transactions for J. Lee, a sole proprietorship established in the month of August: The owner, Jason Lee, invested $39,900 in the business. Purchased supplies on account for $630. Purchased equipment for $11,400 by signing a note payable due in three months. Provided services for $17.100. Of this amount. $8,600 was received in cash. The balance was on account. Paid salaries of $1,400. Paid Jason Lee $4,900 for his personal use. A customer paid $2,800 in advance for services to be provided next month. Paid the balance owing for the supplies purchased on August 2 Collected the remaining $8.500 of the amount owing from the August 9 transaction. Paid office expense of $3,600. Paid interest of $60 on the note payable signed on August 5. Aug 2 2 5 9 14 15 19 22 25 26 30 Journalize the August transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries) Date Account Titles Debit Credit

You are presented with the following transactions for J. Lee, a sole proprietorship established in the month of August: The owner, Jason Lee, invested $39,900 in the business. Purchased supplies on account for $630. Purchased equipment for $11,400 by signing a note payable due in three months. Provided services for $17.100. Of this amount. $8,600 was received in cash. The balance was on account. Paid salaries of $1,400. Paid Jason Lee $4,900 for his personal use. A customer paid $2,800 in advance for services to be provided next month. Paid the balance owing for the supplies purchased on August 2 Collected the remaining $8.500 of the amount owing from the August 9 transaction. Paid office expense of $3,600. Paid interest of $60 on the note payable signed on August 5. Aug 2 2 5 9 14 15 19 22 25 26 30 Journalize the August transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries) Date Account Titles Debit Credit

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 33P

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