The following selected transactions were completed during July of the current year: 1. Billed customers for fees earned, $52,250. 2. Purchased supplies on account, $2,250. 3. Received cash from customers on account, $49,120. 4. Paid creditors on account, $1,360.

The following selected transactions were completed during July of the current year: 1. Billed customers for fees earned, $52,250. 2. Purchased supplies on account, $2,250. 3. Received cash from customers on account, $49,120. 4. Paid creditors on account, $1,360.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 12PB: Prepare journal entries to record the following transactions that occurred in March: A. on first day...

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Question

654 )

The
following selected transactions were completed during July of the current year:
1. Billed customers for fees earned, $52,250.
2. Purchased supplies on account, $2,250.
3. Received cash from customers on account, $49,120.
4. Paid creditors on account, $1,360.
a. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions.
an entry, leave it blank.
(1)
(2)
(3)
+

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