29) Journalize the following transactions. You may leave out the explanations and disregard the posting reference.
A.Paul invested $33,000 into his company, Paul’s Sports, on January 9.
B.The company purchased $6,300 of furniture on account on February 14.
C.The company paid three month’s rent of $4,500 and recorded it as a prepaid expense on February 22.
D.The company bought $5,300 of office desks and $9,000 of computer equipment for $14,300 cash
on March 9.
E.The company incurred $1400 of wages to be paid next week. This entry is to be dated March 19.
30) Using the accounts below, determine the accounts to be debited and credited for each of the transactions below.
Accounts
Cash
Dividends
Supplies
Revenue
Machinery
Salaries Payable
Accounts Payable
Salaries Expense
Retained Earnings
Accounts Receivable
Wages Expense
Transactions
1.Paid wages for cash.
2.Purchased equipment for cash.
3.Earned revenue on account.
4.Purchased supplies on account.
5.Paid for supplies purchased in 4.
6.Received payment from customer in 3.
7.Paid employee salaries.
8.Purchased machinery on credit.
9.Paid dividends to shareholders.