Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ex1. prepare journal entry: 1. paid 3,000 cash on

EX1. Prepare Journal entry: 1. Paid 3,000 cash on accounts payable. 2. Collected 1,000 of...

70.2K

Verified Solution

Question

Accounting

image

EX1. Prepare Journal entry: 1. Paid 3,000 cash on accounts payable. 2. Collected 1,000 of accounts receivable. 3. Purchased additional office equipment for 2,000, paying 500 in cash and the balance on account. 4. Earned revenue of 10,000, of which 3,500 is received in cash and the others on account. 5. Paid salaries 1,500, rent for July 900, and advertising expense 400. 6. Incurred utilities expense for month on account 150. 7. Received 5,000 from Capital Bank (money borrowed as a note payable)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

) The Paralyzed Veterans of America is a philanthropic organization that relies on contributions. They send...

Basic Math
Q

What is the average percentage of time that construction workers and productive according to James Adrian...

Civil Engineering
Q

tow conducting cones (θ = π/10 and θ = π/6) of infinite extent are separated by...

Electrical Engineering
Q

Osama Bin Noor is the co-founder of Youth Opportunities and he is one of good social...

General Management
Q

dose Record answer as a whole number Do not use a trailing zero Blank 1...

Biology
Q

00 Menisci of knee vertebral discs and pubic symphysis Articular costal respiratory and nasal cartilages...

Biology
Q

A light ray is moving from denser refractive index to air If the angle of...

Physics
Q

You have a microammeter which reads 50 A at full scale deflection and the coil...

Physics
Q

A sphere of radius R has uniformly distributed charge density p There is a spherical...

Physics
Q

Next question For the given simplex tableau a list the basic and the nonbasic variables...

Calculus
Q

Q2: Suppose MASS Company's breakeven point is revenues of $1,100,000. Fixed costs are $660,000. ...

Accounting
Q

Please help with requirements 2 and 3 ...

Accounting