2. In good form, please record journal entries for the following transactions for the month of September. 9/2 Sam Harley opened a travel agency called "Harley Travel" by investing $50,000. 9/4 Paid $1,200 for the current months rent. 9/10 Purchased office equip for $8,000 from Zen Co. Paid $3000 and the balance on account. 9/15 Hired a receptionist to be paid $800 every other Friday. 9/17 Purchased 12-month insurance policy from Ace Insurance and paid $600. 9/20 Provided $1,000 of service to Bond Co, collected $250 cash with the balance on account. 9/22 Paid for balance $5,000 due on equipment purchased from Zen Co on 9/10. 9/25 Collected $500 in advance as a deposit from May Co. for future travel. 9/28 Received a telephone bill from Spectrum Wireless for $300, due by 10/14. 9/29 Collected $750 balance due from Bond Co for services provided on 9/20. 9/30 Paid receptionist bi-weekly salary $800. 9/30 Harley withdrew $1,500 from the business for personal use.
2. In good form, please record journal entries for the following transactions for the month of September. 9/2 Sam Harley opened a travel agency called "Harley Travel" by investing $50,000. 9/4 Paid $1,200 for the current months rent. 9/10 Purchased office equip for $8,000 from Zen Co. Paid $3000 and the balance on account. 9/15 Hired a receptionist to be paid $800 every other Friday. 9/17 Purchased 12-month insurance policy from Ace Insurance and paid $600. 9/20 Provided $1,000 of service to Bond Co, collected $250 cash with the balance on account. 9/22 Paid for balance $5,000 due on equipment purchased from Zen Co on 9/10. 9/25 Collected $500 in advance as a deposit from May Co. for future travel. 9/28 Received a telephone bill from Spectrum Wireless for $300, due by 10/14. 9/29 Collected $750 balance due from Bond Co for services provided on 9/20. 9/30 Paid receptionist bi-weekly salary $800. 9/30 Harley withdrew $1,500 from the business for personal use.
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 19EB: A business has the following transactions: A. The business is started by receiving cash from an...
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