Journalize the following selected transactions for July 2014 in a two-column journal. Journal entry explanations may be omitted.
July 1. Paid rent for the month, $3,200.
3. Paid advertising expense, $750.
5. Paid cash for supplies, $1,300.
6. Purchased office equipment on account, $12,500.
10. Received cash from customers on account, $11,400.
15. Paid creditor on account, $1,175.
27. Paid cash for repairs to office equipment, $600.
30. Paid telephone bill for the month, $180.
31. Fees earned and billed to customers for the month, $33,760.
31. Paid electricity bill for the month, $1,300.
31. Withdrew cash for personal use, $4,000.
Answer:
2014 July 1 Rent Expense 3,200 Cash 3,200 3 Advertising Expense 750 Cash 750 5 Supplies 1,300 Cash 1,300 6 Office Equipment 12,500 Accounts Payable 12,500 10 Cash 11,400 Accounts Receivable 11,400 15 Accounts Payable 1,175 Cash 1,175 27 Miscellaneous Expense 600 Cash 600 30 Utilities Expense 180 Cash 180 31 Accounts Receivable 33,760 Fees Earned 33,760 31 Utilities Expense 1,300 Cash 1,300 31 Dennis Isberg, Drawing 4,000 Cash 4,000