question july 1 invested 75 000 cash into the business in exchange for shares of com 4294206
Question
July 1 Invested $ 75,000 cash into the business in exchange for shares of common stock.
July 1 Purchased supplies on account for $1,500.
July 1 Paid six months rent in advance on a lease rental contract, $ 12,000.
July 2 Billed clients for work completed last month, $ 5,500.
July 3 Purchased office equipment on account for $ 12,000.
July 5 Received cash from clients as an advance payment for services to be provided for a four-month period and recorded it as unearned fees, $9,600.
July 6 Paid three months insurance in advance for auto insurance policy, $1,200.
July 7 Provided legal services and billed the client, $2,500.
July 8 Received cash from clients on account, $3,000.
July 10 Paid cash for a newspaper advertisement, $450.
July 12 Paid creditor on account for Office Equipment purchase on July 3, $2,200.
July 14 Provided legal services and billed the client, $6,700.
July 15 Paid the receptionist for two weeks’ salary, $1,600.
July 17 Received payment from client for services provided on July 7, $1,000.
July 18 Paid cash for supplies, $700.
July 20 Paid telephone bill for July , $ 450.
July 23 Paid Electricity bill for July, $830.
July 25 Provided legal services and billed the client, $2,500.
July 27 Paid creditor on account for supplies purchased on July 1, $1,000.
July 28 Paid cash for another newspaper advertisement, $500.
July 30 Received cash from clients on account, $3,000.
July 30 Paid receptionist for two weeks’ salary, $1,600.
July 30 Paid dividends of $200.
Instructions
Journalize the transactions for the month of July 2015. Please use the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Rent, Prepaid Insurance, Office Equipment, Accumulated Depreciation-Office Equipment, Accounts Payable, Salaries Payable, Unearned Fees, Common Stock, Retained Earnings, Dividends, Legal Revenue, Salary Expense, Advertising Expense, Rent Expense, Supplies Expense, Depreciation Expense, Telephone Expense, Electricity Expense and Insurance Expense.
Please do this for mel, thank you 😉