Question

George Smyth opened a computer repair business on Apr. 1, 20--. During the first month of operations, the firm had the following transactions. Apr. 1 George Smyth invested $30,000 cash in the business. 2 Paid rent for April, $2,100. 8 Bought equipment for $12,000 and issued a check for $3,000 as a down payment. 12 Performed services for $3,200 in cash, and $1,200 on credit. 19 Paid electric bill, $225. 25 Received $900 on account from credit customers. Required: Record each transactions on page 1 of the general journal. Omit explanations. If an amount box does not req

Answer 1

Answer:

Record each transactions on page 1 of the general journal

Explanation:

Cash  30000  

Equity  30000

George Smyth invested $30,000 cash in the business    

   

Rent expenses  2100  

Cash  2100

Paid rent for April    

   

Equipment  12000  

Cash                  3000

Account payable  9000

Bougth equipment    

   

Cash           1200  

Account receivable2000  

Revenue                 3200

Performed services    

   

Utilities               225  

Cash                225

Paid electric bill    

   

Cash                900  

Account receivable 900

Received on account from credit customers