December 21, 2014

Homework Help: Accounting

Posted by Leisel on Thursday, September 24, 2009 at 4:54pm.

I need to enter the following into Journal Enteries
a) Borrowed $12,000 cash on a short-term note payable dates march 1, 2011
b) Purchased land for future buildings site, paid cash, $9,000.
c) Earned $160,000 in Service Revenue for 2011, including 40,000 on credit and 120,000 collected in cash.
d) Received an additional $3,000 investments by H. Hermann.
e) Recognized 70,000 in Wages Expense for 2011, paid in cash, and 15,000 of Other Operating Expense on credit.
f) Collected accounts receivable from customers, 24,000.
g) Purchased other assets, 10,000.
h)Paid accounts payable, 13,000.
i) Signed a 25,000 service contract to start Feb 1, 2012.
j) Purchased supplies on an account for future use, 18,000.
k) Paid 17,000 cash to H. Hermann on his drawing account.


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