Emerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts:Cash5/145,0005/22,5005/117,7005/34,800 5/54,600 5/95,300 5/253,400Equipment5/313,900 Mary Silva, Drawing5/253,400 Accounts Receivable5/812,4005/117,700Accounts Payable5/95,3005/39,100Fees Earned 5/812,400Supplies5/22,5005/151,400Mary Silva, Capital 5/145,000Operating Expenses5/54,600 5/151,400 Based upon the T accounts provided, prepare the nine journal entries from which the postings were made. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Name: Emerald Tours Co. is a travel agency. The nine transactions recorded b
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Description: Emerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts:Cash5/145,0005/22,5005/117,7005/34,800 5/54,600 5/95,300 5/253,400Equip

Journal entries are the entries to be recorded in the general journal of the Company for all the…

Answered: Emerald Tours Co. is a travel agency.…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

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Emerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts:

Cash
5/1	45,000	5/2	2,500
5/11	7,700	5/3	4,800
		5/5	4,600
		5/9	5,300
		5/25	3,400

Equipment
5/3	13,900

Mary Silva, Drawing
5/25	3,400

Accounts Receivable
5/8	12,400	5/11	7,700

Accounts Payable
5/9	5,300	5/3	9,100

Fees Earned
		5/8	12,400

Supplies
5/2	2,500	5/15	1,400

Mary Silva, Capital
		5/1	45,000

Operating Expenses
5/5	4,600
5/15	1,400

Based upon the T accounts provided, prepare the nine journal entries from which the postings were made. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

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