Answer Happy

Journal Entries July 1 Credit Account Title Cash Accounts Receivable Supplies Office Equipment Common Stock Debit $ 12,500 $ 20,800 $ 3,100 $ 7,500 $ 43,900 1 Prepaid Rent Cash $ 4,800 $ 4,800 2. $ 4,500 Prepaid Insurance Cash $ 4,500 4 $ 5,500 Cash Unearned Fees $ 5,500 $ 6,500 Office Equipment Accounts Payable $ 6,500 $ 15,300 Cash Accounts Receivable $ 15,300
10 $ 400 Miscellaneous Expense Cash $ 400 12 $ 5,200 Accounts Payable Cash $ 5,200 12 Accounts Receivable Fees Earned $ 13,300 $ 13,300 14 $ 1,700 Salaries Expense Cash $ 1,700 17 $ 9,450 Cash Fees Earned $ 9,450 18 $ 600 Supplies Cash $ 600 20 $ 6,650 Accounts Receivable Fees Earned $ 6,650
24 $ 5,000 Cash Fees Earned $ 5,000 26 $ 12,000 Cash Accounts Receivable $ 12,000 27 $ 1,700 Salaries Expense Cash $ 1,700 29 $ 400 Miscellaneous Expense Cash $ 400 31 $ 675 Miscellaneous Expense Cash $ $ 675 31 $ 5,200 Cash Fees Earned $ 5,200 31 $ 3,000 Accounts Receivable Fees Earned $ 3,000 31 $ 12,500 Dividends Cash $ 12,500
Adjusting Entries Credit Account Title Insurance Expense Prepaid Insurance Debit $ 375 A $ 375 B $ 2,150 (3,100 + 600 = 3,700 - 1,550 = 2,150 ) Supplies Expense Supplies $ 2,150 с $ $ 750 Depreciation expense Accumulated Depreciation $ 750 D D $ $ 170 Salaries Expense Salaries payable $ 170 E $ 2,400 Rent Expense Prepaid Rent $ 2,400 F $ 3,500 (5,500 - 2,000 = 3,500) Unearned Fees Fees Earned $ 3,500