Prepare journal entries for the transactions for Gordon Co for the month of July 2021. 7/2 Barry Gordon invested 30

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Prepare journal entries for the transactions for Gordon Co for the month of July 2021. 7/2 Barry Gordon invested 30

Post by answerhappygod »

Prepare journal entries for the transactions for Gordon
Co for the month of July 2021.
7/2 Barry Gordon invested 30,000
to start the business
7/3 Paid 1,100 for the current
month’s rent
7/5 Purchased 1,500 of supplies on
account.
7/9 Purchased advertising from
Evening Journal at a cost of 1,250 payable in 15 days.
7/15 Provided 2,000 of service to H Co.
collected 500 cash and balance on account
7/19 Paid for advertising purchased from the
Evening Journal on 7/9
7/21 Purchased equipment from T Co. for 6,500,
paid cash 1,500 and balance on account
7/24 Hired assistant at a salary of 750 per
week
7/28 Received 1,000 cash advance for service
to be provided in August
7/29 Received utility bill for 225
7/30 Collected accounts receivable from H
Co.
7/31 Gordon withdrew 2,000 cash for personal
use
7/31 Paid assistant 750 salary for the
week.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply