- Atkinson Building Supplies had the following transactionsduring August. Atkinson uses a perpetual inventory system. Usingthe accounts listed below and the journal paper provided,journalize the transactions in proper form. Indicate noentry if appropriate. Omit explanations.
. Cash Dividends
Supplies Sales
PrepaidInsurance Sales Returns and Allowances
PrepaidRent Sales Discounts
MerchandiseInventory Cost of Goods Sold
Accounts Receivable Wages Expense
Allowance for UncollectibleAccounts Insurance Expense
Equipment Supplies Expense
Accumulated DepreciationEquipment UtilitiesExpense
AccountsPayable Interest Expense
Notes Payable Depreciation Expense
UnearnedRevenue Bad Debt Expense
InterestPayable Discount Expense
Common Stock Rent Expense
Paid in Capital in Excess of ParValue IncomeSummary
RetainedEarnings
Aug. 1 Borrowed $8,000 on a 6 month note payable at 3%interest.
Aug. 2 Paid $1,500 for a one-year insurance policy.
Aug. 3 Rented office space and paid the August rent of $800.
Aug. 4 Purchased equipment costing $15,000 for $4,000 cash andthe remainder on
credit
Aug. 5 Purchased supplies on account for $400.
