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Selected transactions for Sheffield’s Dog Care are as follows during the month of March. March 1 Paid monthly rent of $1,270. 3 Performed services for $150 on account. 5 Performed services for cash of $80. 8 Purchased equipment for $635. The company paid cash of $85 and the balance was on account. 12 Received cash from customers billed on March 3. 14 Paid salaries and wages to employees of $555. 22 Paid utilities of $76. 24 Borrowed $1,590 from Grafton State Bank by signing a note. 27 Paid $230 to repair service for plumbing repairs. 28 Paid balance amount owed from equipment purchase on March 8. 30 Paid $2,100 for six months of insurance.

Respuesta :

Answer:

The journal entries from March 1 to 30th March are detailed in the explanation.

Explanation:

The Question is to journalize the transactions of Sheffield's Dog Care during the Month of March

Date         Account  Particulars                       Debit               Credit

Mar 1       Rent A/c                                         $1,270            

                 Cash                                                                       $1,270

Being the record of Monthly rent payment for the month of March

Mar 3       Accounts Receivable                   $150            

                 Service Revenue                                                   $150

Being the record of service provided on account

Mar 5       Cash                                          $80          

                Service Revenue                                                   $80

Being the record of service provided for cash

Mar 8       Equipment                                $635            

                 Cash                                                                      $85

                 Accounts Payable                                                $550

Being the record of equipment purchased

Mar 12       Cash                                        $150            

                 Accounts Receivable                                          $150

Being the record of cash received from the customer

Mar 15       Wages Expenses                  $555            

                 Cash                                                                       $555

Being the record of wages paid

Mar 22       Utilities Expense                $76            

                 Cash                                                                       $76

Being the record of utilities expense

Mar 24       Bank A/c                                         $1,590            

                 Notes Payable                                                       $1,590

Being the record of borrowed cash signing notes payable

Mar 27       Repair Expense A/c                   $230            

                 Cash                                                                       $230

Being the record of repair of expense

Mar 28       Accounts Payable A/c                   $550            

                 Cash                                                                       $550

Being the record of payment made to accounts payable

Mar 30       Prepaid Insurance A/c                   $1.910            

                 Cash                                                                       $1,910

Being the record of payment for insurance.

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