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17 January, 06:33

March 1 Paid monthly rent of $890. 3 Performed services for $100 on account. 5 Performed services for cash of $55. 8 Purchased equipment for $445. The company paid cash of $60 and the balance was on account. 12 Received cash from customers billed on March 3. 14 Paid wages to employees of $390. 22 Paid utilities of $54. 24 Borrowed $1,110 from Grafton State Bank by signing a note. 27 Paid $160 to repair service for plumbing repairs. 28 Paid balance amount owed from equipment purchase on March 8. 30 Paid $1,330 for six months of insurance. Journalize the transactions.

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  1. 17 January, 06:55
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    Journal Entries

    Date Account titles & explanations Debit Credit

    Mar-01 Rent expense 890

    To cash 890

    Mar-03 Account receivable 100

    To service revenue 100

    Mar-05 Cash 55

    Service revenue 55

    Mar-08 Equipment 455

    Cash 60

    accounts payable 395

    Mar-12 Cash 100

    To account receivable 100

    Mar-14 Wage expense 390

    To cash 390

    Mar-22 Utility expense 54

    To cash 54

    Mar-24 Cash 1,110

    To notes payable 1,110

    Mar-27 Repair & maintenance 160

    To cash 160

    Mar-28 Accounts payable 395

    To cash 395

    Mar-30 Prepaid Insurance 1,330

    To cash 1,330
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