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The following journal entries were prepared by an employee of International Marketing Company who does not have an adequate knowledge of accounting.
GENERAL JOURNAL PAGE 3 Post. Ref. Debit Credit Date Description 20x1 April 1 Accounts Payable Fees Income Performed services on credit 12,500 12,500 650 650 2 Cash Telephone Expense Paid for March telephone service, Check 1917 8,400 950 3 Office Equipment Office Supplies Accounts payable Purchased file cabinet and office supplies, Check 1918 9,350 No Date General Journal Debit Credit 1 Apr 30, 20X1 12,500 Accounts receivable Accounts payable 12,500 N Apr 30, 20X1 650 Telephone expense Cash 650 3 Apr 30, 20X1 x Office equipment Office supplies Cash 8,400 X 950 9,350 4 Apr 30, 20X1 Cash 9,350 Office equipment Office supplies X x 8,400 X 950 Assets Increased by $ 11,850 x
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