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29 August, 12:47

Journalize the following five transactions for Nexium & Associates, Inc. Omit explanations.

March 1 - Bills are sent to clients for services provided in February in the amount of $800.

March 9 - Corner Office, Inc. delivers office furniture ($1,060) and office supplies ($160) to Nexium leaving an invoice for $1,220.

March 15 - Payment is made to Corner Office, Inc. for the furniture and office supplies delivered on March 9.

March 23 - A bill for $430 for electricity for the month of March is received and will be paid on its due date in April.

March 31 â€" Salaries of $850 are paid to employees.

For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

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Answers (2)
  1. 29 August, 12:50
    0
    Journal to record the five transactions for Nexium and Associates, Inc.

    Account Particulars Debit Credit

    March 1

    Accounts Receivable $800

    Services Revenue $ 800

    March 9

    Office Furniture $1,060

    Office Supplies 160

    Accounts Payable 1,220

    March 15.

    Accounts Payable 1,220

    Cash 1,220

    March 23.

    Electricity Expense $430

    Accounts Payable $430

    March 31

    Salaries Expense $850

    Cash $850
  2. 29 August, 13:17
    0
    Nexium & Associates Journal entries

    March 1

    Dr Accounts Receivable800

    Cr Service Revenue 800

    March 9

    Dr Office Furniture1,060

    Cr Office Supplies 160

    Cr Accounts Payable1,220

    March 15

    Dr Accounts Payable1,220

    Cr Cash1,220

    March 23

    Dr Electricity Expense430

    Cr Accounts Payable430

    March 31

    Dr Salaries Expense850

    Cr Cash850

    Explanation:

    The details given about Nexium & Associates are straight forward and required no further

    adjustment.
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