Accounting Journal Entry questions!!?December 24 One of the windows of the showroom was broken. Rebel Ridge Snowmobile issued check 10060 to Jackís Pain in the Glass for the repair which is to be charged to Miscellaneous Expense. Jackís issued invoice J3400 for $320.00. December 24 Sold one snowmobile and accessories to John Parrish who used his Master Card bank credit card. The sales invoice is R0049 for $6,128.90. December 26 Issued check 10061 for $560.00 to the North San Juan Reporter for advertisements in its weekly newspaper. At the invoice prompt enter NS689. December 28 Sold snowmobile accessories to Larry Green for cash. The total sales price is $1,477.00. The sales invoice number is R0050. December 30 Issued check 10062 for $5,000, plus interest of 5.0 percent per year on the unpaid balance. This is the third monthly payment on the $40,000 (original balance) note payable. The last payment was made on November 30. Record this compound journal entry with an invoice prompt notation of NTPAY for note payable. (Be sure to use a 360-day year in all of your interest calculations.) December 31 Received a $350.00 invoice (D3443) from Douglas Janitorial (21300) for janitorial services performed over the month of December. Charge Miscellaneous Expense (629). Payment is due January 15th. December 31 Issued the following checks: Check No. Payee Expense Invoice Amount Check 10063 Sierra Power 624 99066 $635.00 Check 10064 Sierra Telephone 625 44555 $240.00 Check 10065 Payroll 601 PR003 $3,800.00 Record each check and expense separately. December 31 Klemís made a purchase on December 6 ($18,769.00) and returned merchandise on December 15 ($145.00). Rebel Ridge Snowmobile accepted a 90-day, 8%, note receivable from Klemís Snowmobile Klub (11200) for the balance of its account. At the invoice prompt enter NTREC.
1) December 24 Dr Miscellaneous Expense 320 Cr Cash 320 December 24 Dr Accounts Receivable, Credit Cards 6,128.90 Cr Sales 6,128.90 December 26 Dr Advertising Expense 560 Cr Cash 560 December 28 Dr Cash 1,477 Cr Sales 1,477 December 30 Dr Notes Payable 5,000 Dr Interest Expense 125 ($30,000 Balance x .05 x 30/360) Cr Cash 5,125 December 31 Dr Miscellaneous Expense 350 Cr Accounts Payable 350 December 31 Dr Utilities Expense 635 Cr Cash 635 Dr Telephone Expense 240 Cr Cash 240 Dr Wages Expense 3.800 Cr Cash 3,800 December 31 Dr Notes Receivable 18,624 Cr Accounts receivable 18,624
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