Value Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment

Value Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Dennis Isberg, Capital; Dennis Isberg, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.

Journalize the following selected transactions for July 2014 in a two-column journal. Journal entry explanations may be omitted.


July  1. Paid rent for the month, $3,200.
        3. Paid advertising expense, $750.
        5. Paid cash for supplies, $1,300.
        6. Purchased office equipment on account, $12,500.
        10. Received cash from customers on account, $11,400.
        15. Paid creditor on account, $1,175.
        27. Paid cash for repairs to office equipment, $600.
        30. Paid telephone bill for the month, $180.
        31. Fees earned and billed to customers for the month, $33,760.
        31. Paid electricity bill for the month, $1,300.
        31. Withdrew cash for personal use, $4,000.

Answer:

2014     July 1 Rent Expense 3,200    Cash  3,200       3 Advertising Expense 750    Cash  750       5 Supplies 1,300    Cash  1,300       6 Office Equipment 12,500    Accounts Payable  12,500       10 Cash 11,400    Accounts Receivable  11,400       15 Accounts Payable 1,175    Cash  1,175       27 Miscellaneous Expense 600    Cash  600       30 Utilities Expense 180    Cash  180       31 Accounts Receivable 33,760    Fees Earned  33,760       31 Utilities Expense 1,300    Cash  1,300       31 Dennis Isberg, Drawing 4,000    Cash  4,000