Chapter 3, Problem 16PA

Prepare journal entries to record the following transactions for the month of July:

A. on first day of the month, paid rent for current month, $2,000

B. on tenth day of month, paid prior month balance due on accounts, $3,100

C. on twelfth day of month, collected cash for services provided, $5,500

D. on twenty-first day of month, paid salaries to employees, $3,600

E. on thirty-first day of month, paid for dividends to shareholders, $800