ran X ducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fblackboard.northerncollege.ca9 -Transaction Analysis and Trial Balan... Saved Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May May 1 Purchased new equipment, paying cash of $13,100 and signing a 90-day note payable for the balance of $23,000. 2 Purchased 12 months of insurance to begin May 2; paid $18,600. 3 Completed a fitness contract for a group of clients today and received $5,100. 4 Purchased office supplies on account; $3,300. 6 Returned to the supplier $660 of defective office supplies purchased on May 4. 10 Provided services to a client today on account; $10,600. 15 Paid for the May 4 purchase less the return of May 6. eceived payment from the client of May 10. 25 Received cash of $1,600 from a client for work to be done in June. 31 Paid month-end salaries of $38, 000. 31 Paid the May telephone bill today; $1,800. 31 Received the May electrical bill today; $2,200. It wil11 be paid on June 15. Required: Prepare journal entries for each of the above transactions. View transaction list View journal entry worksheet
ran X ducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fblackboard.northerncollege.ca9 -Transaction Analysis and Trial Balan... Saved Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May May 1 Purchased new equipment, paying cash of $13,100 and signing a 90-day note payable for the balance of $23,000. 2 Purchased 12 months of insurance to begin May 2; paid $18,600. 3 Completed a fitness contract for a group of clients today and received $5,100. 4 Purchased office supplies on account; $3,300. 6 Returned to the supplier $660 of defective office supplies purchased on May 4. 10 Provided services to a client today on account; $10,600. 15 Paid for the May 4 purchase less the return of May 6. eceived payment from the client of May 10. 25 Received cash of $1,600 from a client for work to be done in June. 31 Paid month-end salaries of $38, 000. 31 Paid the May telephone bill today; $1,800. 31 Received the May electrical bill today; $2,200. It wil11 be paid on June 15. Required: Prepare journal entries for each of the above transactions. View transaction list View journal entry worksheet
Chapter1: An Introduction To Quickbooks Online
Section: Chapter Questions
Problem 1M
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