On June 1, 2019, Kris Storey established an interior decoratingbusiness, Eco-Centric Designs. During the month, Kris completed thefollowing transactions related to the business:
June
1
Kris transferred cash from a personal bank account to an account tobe used for the business, $35,000.
1
Paid rent for period of June 1 to end of month, $4,750.
6
Purchased office equipment on account, $14,100.
8
Purchased a van for $28,500 paying $4,500 cash and giving a notepayable for the remainder.
10
Purchased supplies for cash, $2,380.
12
Received cash for job completed, $12,200.
15
Paid annual premiums on property and casualty insurance,$3,600.
23
Recorded jobs completed on account and sent invoices to customers,$11,900.
24
Received an invoice for van expenses, to be paid in June,$1,500.
Enter the following transactions on Page 2 of the two-columnjournal:
June
29
Paid utilities expense, $3,100.
29
Paid miscellaneous expenses, $950.
30
Received cash from customers on account, $7,330.
30
Paid wages of employees, $5,070.
30
Paid creditor a portion of the amount owed for equipment purchasedon June 6, $6,825.
30
Withdrew cash for personal use, $1,600.
Required:
1.
Journalize each transaction in a two-column journal beginning onPage 1, referring to the chart of accounts in selecting theaccounts to be debited and credited. (Do not insert the postreference numbers until you have posted the entry to the generalledger in part 2.)
