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During the first month of operations, Gagne Services, Inc., completed the following transactions 0 (Click the icon to view the transaction data.) Requirements 1. Record each transaction in the journal. Be sure to record the date in each entry. Explanations are not required 2. Post the transactions to the T-accounts, using transaction dates as posting references. Label the ending balance of each account Bal. 3. Prepare the trial balance of Gagne Services, Inc, at July 31 of the current year 4. Jared Gagne, the manager, asks you how much in total resources the business has to work with; how much it owes, and whether July was profitable (and by how much). Requirement 1. Record each transaction in the journal, Key each transaction by date. Explanations are not required. (Reoord debits first, then credits. Exclude explanations from journal entries.) Jul 2: Gagne Services received $68,000 cash and issued common stock to the stockholders Journal Entry Date Accounts Debit Credit Jul Jul 3: Purchased supplies, $700, and equipment, $11,800, on account. (Prepare a single compound journal entry) Journal Entry Date Accounts Debit Credit Jul Choose from any list or enter any number in the input fields and then continue to the next question. During the first month of operations, Gagne Services, Inc., completed the following transactions: (Click the icon to view the transaction data.) Requirements 1. Record each transaction in the journal. Be sure to rec 2. Post the transactions to the T-accounts, using transa 3. Prepare the trial balance of Gagne Services, Inc., at 4. Jared Gagne, the manager, asks you how much in to More Info by how much) Jul 2 Gagne Services received $68,000 cash and issued common stock to the Requirement 1. Record each transaction in the journal. Ke Jul 2: Gagne Services received $68,000 cash and issued stockholders. 3 Purchased supplies, $700, and equipment, $11,800, on account. explanations from jo 4 Performed services for a customer and received cash, $5,400. 7 Paid cash to acquire land, $33,000. 11 Performed services for a customer and billed the customer, $4,100. Gagne Journal Entry Date Accounts expects to collect within one month. 16 Paid for the equipment purchased July 3 on account. 17 Paid for newspaper advertising, $570 18 Received partial payment from customer on account, $2,000. 22 Received and paid the water and electricity bills, $400. 29 Received $2,700 cash for servicing the heating unit of a customer 31 Paid employee salaries, $2,300. 31 Declared and paid dividends of $2,500. Jul Jul 3: Purchased supplies, $700, and equipment, $11,800 Journal Entry Date Accounts Print Done Jul Choose from any list or enter any number in the input fields and then continue to the next question. "JUI TI: Perrormea services Tor a customer ana DIllea e customer, $4,1 U. Gagne expects collect witnin one Journal Entry Date Accounts Debit Credit Jul Jul 16: Paid for the equipment purchased July 3 on account. Journal Entry Date Accounts Debit Credit Jul Choose from any list or enter any number in the input fields and then continue to the next question. Requirements 1. Record each transaction in the journal. Be sure to record the date in each entry. Explanations are not required. 2. Post the transactions to the T-accounts, using transaction dates as posting references. Label the ending balance of each a 3. Prepare the trial balance of Gagne Services, Inc., at July 31 of the current year. 4. Jared Gagne, the manager, asks you how much in total resources the business has to work with, how much it owes, and w Cash Common Stock Accounts Receivable Dividends Choose from any list or enter any number in the input fields and then continue to the next question. Requirements 1. Record each transaction in the journal. Be sure to record the date in each entry. Explanations are not required. 2. Post the transactions to the T-accounts, using transaction dates as posting references. Label the ending balance of each ac 3. Prepare the trial balance of Gagne Services, Inc., at July 31 of the current year. 4. Jared Gagne, the manager, asks you how much in total resources the business has to work with, how much it owes, and w Supplies Service Revenue Equipment Salary Expense Land Advertising Expense Choose from any list or enter any number in the input fields and then continue to the next question. 2. 3. 4. Post the transactions to the T-accounts, using transaction dates as posting references. Label the ending balance of ea Prepare the trial balance of Gagne Services, Inc., at July 31 of the current year. Jared Gagne, the manager, asks you how much in total resources the business has to work with, how much it owes, a Gagne Services, Inc. Trial Balance July 31 Account Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. . Recul ualthe joual. Be sure t recold th date in each entry. Explanations are not required. 2. 3. 4. Post the transactions to the T-accounts, using transaction dates as posting references. Label the ending balance of each Prepare the trial balance of Gagne Services, Inc., at July 31 of the current year. Jared Gagne, the manager, asks you how much in total resources the business has to work with, how much it owes, and Total Requirement 4. Jared Gagne, the manager, asks you how much in total resources the business has to work with, how much it Total resources $ Amount owed$ The company profitable, as it reported of $ Choose from any list or enter any number in the input fields and then continue to the next

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