Post the following General Journal entries into the General Ledger: Hint: you may not need to fill in every box GENERAL JOURNAL Page 1 Date Description Post Debit Credit 1/1 Insurance Expense 20,000 Cash 20,000 1/5 Supplies Expense 5,000 Cash 5,000 1/7 Cash 6,000 Accounts Receivable 6,000

Post the following General Journal entries into the General Ledger: Hint: you may not need to fill in every box GENERAL JOURNAL Page 1 Date Description Post Debit Credit 1/1 Insurance Expense 20,000 Cash 20,000 1/5 Supplies Expense 5,000 Cash 5,000 1/7 Cash 6,000 Accounts Receivable 6,000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter4: Posting To A General Ledger

Section: Chapter Questions

Problem 1CP

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Question

Post the following General Journal entries into the General Ledger:

Hint: you may not need to fill in every box

GENERAL JOURNAL Page 1
Date	Description	Post	Debit	Credit
1/1	Insurance Expense		20,000
	Cash			20,000

1/5	Supplies Expense		5,000
	Cash			5,000

1/7	Cash		6,000
	Accounts Receivable			6,000

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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