Aug. 2 5 9 14 15 19 22 25 26 The owner, Jason Young, invested $42,700 in the business. Purchased supplies on account for $670. Purchased equipment for $12,200 by signing a note payable due in three months. Provided services for $18,300. Of this amount, $9,200 was received in cash. The balance was Paid salaries of $1,500. Paid Jason Young $5,200 for his personal use. A customer paid $3,000 in advance for services to be provided next month. Paid the balance owing for the supplies purchased on August 2. Collected the remaining $9,100 of the amount owing from the August 9 transaction. Paid office expense of $3,900.
Aug. 2 5 9 14 15 19 22 25 26 The owner, Jason Young, invested $42,700 in the business. Purchased supplies on account for $670. Purchased equipment for $12,200 by signing a note payable due in three months. Provided services for $18,300. Of this amount, $9,200 was received in cash. The balance was Paid salaries of $1,500. Paid Jason Young $5,200 for his personal use. A customer paid $3,000 in advance for services to be provided next month. Paid the balance owing for the supplies purchased on August 2. Collected the remaining $9,100 of the amount owing from the August 9 transaction. Paid office expense of $3,900.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 5PEB
Related questions
Topic Video
Question
![Date
Account Titles
(Invested cash in the business)
(Purchased supplies on account)
Debit
10
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6238ee92-409c-4e03-9fd0-d8915d3f9c35%2F6cdd26bf-b2c1-454a-ba97-d07f3ebb83b5%2Fwp6r54_processed.png&w=3840&q=75)
Transcribed Image Text:Date
Account Titles
(Invested cash in the business)
(Purchased supplies on account)
Debit
10
Credit
![You are presented with the following transactions for J. Young, a sole proprietorship established in the month of August:
Aug.
2
2
5
9
14
15
19
22
25
26
30
The owner, Jason Young, invested $42,700 in the business.
Purchased supplies on account for $670.
Purchased equipment for $12,200 by signing a note payable due in three months.
Provided services for $18,300. Of this amount, $9,200 was received in cash. The balance was on account.
Paid salaries of $1,500.
Paid Jason Young $5,200 for his personal use.
A customer paid $3,000 in advance for services to be provided next month.
Paid the balance owing for the supplies purchased on August 2.
Collected the remaining $9,100 of the amount owing from the August 9 transaction.
Paid office expense of $3,900.
Paid interest of $60 on the note payable signed on August 5.
Journalize the August transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.
List all debit entries before credit entries.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6238ee92-409c-4e03-9fd0-d8915d3f9c35%2F6cdd26bf-b2c1-454a-ba97-d07f3ebb83b5%2Fa1ubki4_processed.png&w=3840&q=75)
Transcribed Image Text:You are presented with the following transactions for J. Young, a sole proprietorship established in the month of August:
Aug.
2
2
5
9
14
15
19
22
25
26
30
The owner, Jason Young, invested $42,700 in the business.
Purchased supplies on account for $670.
Purchased equipment for $12,200 by signing a note payable due in three months.
Provided services for $18,300. Of this amount, $9,200 was received in cash. The balance was on account.
Paid salaries of $1,500.
Paid Jason Young $5,200 for his personal use.
A customer paid $3,000 in advance for services to be provided next month.
Paid the balance owing for the supplies purchased on August 2.
Collected the remaining $9,100 of the amount owing from the August 9 transaction.
Paid office expense of $3,900.
Paid interest of $60 on the note payable signed on August 5.
Journalize the August transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.
List all debit entries before credit entries.)
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