application problem 3 - 4.2 (static)\nattempts score / 9\n1. 3 - 4.2 application problem (lo3,\n1…

application problem 3 - 4.2 (static)\nattempts score / 9\n1. 3 - 4.2 application problem (lo3,\n1. journalize the transactions 2. totals and proc reports\naug. 1 mikaela mundt invested $2,000.00 of her own money in the business. receipt no. 1\n3 used business cash to purchase supplies costing $216.00. wrote check no. 1\n4 wrote check no. 2 for insurance, $245.00\n5 purchased supplies for $68.00 over the phone from southern supplies, promising to send the check next week. memo no. 1\n11 sent check no. 3 to southern supplies, $68.00\n12 sent a check for the electricity bill, $180.00. check no. 4\n15 wrote $800.00 check to ms. mundt as a withdrawal of equity for personal use. used check no. 5\n16 sold services for $412.00 to j. lepowsky, who agreed to pay for them within ten days. sales invoice no. 1\n17 recorded cash sales of $1,179.00. calculator tape dated march. 17, t17\n18 paid $132.00 for advertising. wrote check no. 6.\nusing the information provided for mundt services, journalize the transactions completed during august of the current year. use page 1 of the journal. remember to record appropriate source document numbers.\njournal\ndate account title doc. no. post. ref. general debit credit sales credit cash debit credit

application problem 3 - 4.2 (static)\nattempts score / 9\n1. 3 - 4.2 application problem (lo3,\n1. journalize the transactions 2. totals and proc reports\naug. 1 mikaela mundt invested $2,000.00 of her own money in the business. receipt no. 1\n3 used business cash to purchase supplies costing $216.00. wrote check no. 1\n4 wrote check no. 2 for insurance, $245.00\n5 purchased supplies for $68.00 over the phone from southern supplies, promising to send the check next week. memo no. 1\n11 sent check no. 3 to southern supplies, $68.00\n12 sent a check for the electricity bill, $180.00. check no. 4\n15 wrote $800.00 check to ms. mundt as a withdrawal of equity for personal use. used check no. 5\n16 sold services for $412.00 to j. lepowsky, who agreed to pay for them within ten days. sales invoice no. 1\n17 recorded cash sales of $1,179.00. calculator tape dated march. 17, t17\n18 paid $132.00 for advertising. wrote check no. 6.\nusing the information provided for mundt services, journalize the transactions completed during august of the current year. use page 1 of the journal. remember to record appropriate source document numbers.\njournal\ndate account title doc. no. post. ref. general debit credit sales credit cash debit credit

Answer

Explanation:

Step1: Record owner's investment

Debit Cash $2000$, Credit Owner's Equity $2000$, Doc. No. Receipt No. 1

Step2: Record supplies purchase with cash

Debit Supplies $216$, Credit Cash $216$, Doc. No. Check No. 1

Step3: Record insurance payment

Debit Pre - paid Insurance $245$, Credit Cash $245$, Doc. No. Check No. 2

Step4: Record supplies purchase on account

Debit Supplies $68$, Credit Accounts Payable $68$, Doc. No. Memo No. 1

Step5: Record payment to creditor

Debit Accounts Payable $68$, Credit Cash $68$, Doc. No. Check No. 3

Step6: Record electricity bill payment

Debit Utilities Expense $180$, Credit Cash $180$, Doc. No. Check No. 4

Step7: Record owner's withdrawal

Debit Owner's Withdrawals $800$, Credit Cash $800$, Doc. No. Check No. 5

Step8: Record credit sales

Debit Accounts Receivable - J. Lepowsky $412$, Credit Sales Revenue $412$, Doc. No. Sales Invoice No. 1

Step9: Record cash sales

Debit Cash $1179$, Credit Sales Revenue $1179$, Doc. No. Calculator tape dated March 17, T17

Step10: Record advertising expense

Debit Advertising Expense $132$, Credit Cash $132$, Doc. No. Check No. 6

DATE ACCOUNT TITLE DOC. NO. POST. REF. GENERAL DEBIT GENERAL CREDIT SALES CREDIT CASH DEBIT CASH CREDIT
Aug 1 Cash Receipt No. 1 2000 2000
Aug 1 Owner's Equity Receipt No. 1 2000
Aug 3 Supplies Check No. 1 216 216
Aug 3 Cash Check No. 1 216 216
Aug 4 Pre - paid Insurance Check No. 2 245 245
Aug 4 Cash Check No. 2 245 245
Aug 5 Supplies Memo No. 1 68
Aug 5 Accounts Payable Memo No. 1 68
Aug 11 Accounts Payable Check No. 3 68 68
Aug 11 Cash Check No. 3 68 68
Aug 12 Utilities Expense Check No. 4 180 180
Aug 12 Cash Check No. 4 180 180
Aug 15 Owner's Withdrawals Check No. 5 800 800
Aug 15 Cash Check No. 5 800 800
Aug 16 Accounts Receivable - J. Lepowsky Sales Invoice No. 1 412
Aug 16 Sales Revenue Sales Invoice No. 1 412 412
Aug 17 Cash Calculator tape dated March 17, T17 1179 1179
Aug 17 Sales Revenue Calculator tape dated March 17, T17 1179 1179
Aug 18 Advertising Expense Check No. 6 132 132
Aug 18 Cash Check No. 6 132 132

Answer:

The journal entries are shown in the above - table format with each transaction properly recorded under the relevant account titles and with appropriate source document numbers.