Paper Details
JOURNAL ENTRIES Amy Anjelo opened a delivery service. Journalize the following transactions that occurred in January of the current year. Use the modified cash basis and a combination journal with special columns for Delivery Fees (credit) and Wages Expense (debit). Prove the combination journal.
Jan. 1 Invested cash in the business, $10,000.
2 Paid shop rental for the month, $400.
3 Purchased a delivery cart on account from Walt?s Wheels, $1,000.
5 Purchased office supplies, $250.
6 Paid telephone bill, $51.
8 Received cash for delivery services, $428.
11 Paid electricity bill, $37.
12 Paid part-time employee, $480.
13 Paid for postage stamps (miscellaneous expense), $29.
15 Received cash for delivery services, $382.
18 Made payment on account for delivery cart previously purchased, $90.
21 Withdrew cash for personal use, $250.
Jan. 24 Paid for a one-year liability insurance policy, $180.
26 Received cash for delivery services, $292.
29 Paid part-time employee, $480.
