64) A business renders services to its customer and collects $900 cash. Please provide the journal entry (debits first, credits second.)
65) A business renders services to its customer for $350 on account. Please provide the journal entry (debits first, credits second.)
66) A business pays salary expense of $4,000 in cash. Please provide the journal entry (debits first, credits second.)
67) In a previous month, the business purchased supplies for $800 on account. Now the company makes a cash payment of $800 to the supplier. Please provide the journal entry (debits first, credits second.)
68) In a previous month, the business rendered services of $5,000 to a client on account. Now the company receives $5,000 cash from the client. Please provide the journal entry (debits first, credits second.)
69) At the end of the month, the business receives a bill for utility expenses of $800 incurred during the month. The business will pay the bill during the following month. Please provide the journal entry (debits first, credits second.)
70) At the end of the month, the business pays $10,000 of dividends to shareholders. Please provide the journal entry (debits first, credits second.)
Learning Objective 2-5
1) In a trial balance, total debits are always equal to total credits.
2) The trial balance is generally used only inside the business and is not published with the other financial statements.
3) A trial balance summarizes a ledger by listing all the accounts with their ending balances.