1. Purchase equipment in exchange for cash of $20,400. 2. Provide services to customers and receive cash of $4,900. 3. Pay the current month's rent of $1,000. 4. Purchase office supplies on account for $2,000. 5. Pay employee salaries of $1,100 for the current month. Required: Record the transactions. Craft uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 Transaction 5 3 Note: Enter debits before credits. Pay employee salaries of $1,100 for the current month. Record entry 4 5 General Journal Clear entry Debit Credit View general Journal

1. Purchase equipment in exchange for cash of $20,400. 2. Provide services to customers and receive cash of $4,900. 3. Pay the current month's rent of $1,000. 4. Purchase office supplies on account for $2,000. 5. Pay employee salaries of $1,100 for the current month. Required: Record the transactions. Craft uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 Transaction 5 3 Note: Enter debits before credits. Pay employee salaries of $1,100 for the current month. Record entry 4 5 General Journal Clear entry Debit Credit View general Journal

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 18E: Happy Tails Inc. has a September 1, 20Y4, accounts payable balance of 620, which consists of 320 due...

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