EX 2-7 Transactions OBJ. 2: Simmons Consulting Co. has thefollowing accounts in its ledger: Cash; Accounts Receivable;Supplies; Office Equipment; Accounts Payable; Michael Short,Capital; Michael Short, Drawing; Fees Earned; Rent Expense;Advertising Expense; Utility Expense; Miscellaneous Expense.Journalize the following selected transactions for October 20Y3 ina two-column journal. Journal entry explanations may beomitted.
Oct. 1. Paid rent for the month, $4,800. 3. Paid advertisingexpense, $2,500. 5. Paid cash for supplies, $1,390. 6. Purchasedoffice equipment on account, $10,670. 10. Received cash fromcustomers on account, $19,730. 15. Paid creditors on account,$9,480. 27. Paid cash for miscellaneous expenses, $530. 30. Paidtelephone bill (utility expense) for the month, $220. 31. Feesearned and billed to customers for the month, $38,620. 31. Paidelectricity bill (utility expense) for the month, $1,540. 31.Withdrew cash for personal use, $6,700.
- Ex 2 7 Transactions Obj 2 Simmons Consulting Co Has The Following Accounts In Its Ledger Cash Accounts Receivable 1 (36.62 KiB) Viewed 9 times
(1) (7) (5) (2) Cash 97,000 (2) 10,540 (3) (4) (6) Accounts Receivable 15,910 (7) Supplies 1,160 (8) 1,160 (3) 2,070 8,120 3,490 3,200 10,540 (6) 850 Equipment 10,350 Accounts Payable 3,490 (3) Mary Silva, Capital (1) 8,280 (9) 97,000 (4) (8) Mary Silva, Drawing 3,200 Fees Earned (5) Operating Expenses 8,120 850 15,910