Question Details

Recorded cash received for services rendered during the week, $5,000




1.	In the journal provided, prepare journal entries (in good form) for the following transactions. If no entry is required, write “no entry.” Omit explanations.

May	1	Lew Parker opened a dry cleaning service, called Junction Cleaners, by depositing $100,000 into a business bank account.
	3	Paid two years' rent in advance, $11,200.
	6	Purchased dry cleaning equipment for $36,000. Paid $14,000 in cash, the remainder to be paid in two weeks.
	10	Hired a worker, to be paid $550 per week.
	17	Paid the worker's weekly wage.
	17	Recorded cash received for services rendered during the week, $5,000.
	20	Paid for the remainder of the equipment purchased on May 6.
	21	Received $240 in advance of cleaning and boxing a wedding gown.
	23	Performed $390 of dry cleaning services for Tuxedos Unlimited. Payment will be received in three days.
	24	Paid the weekly wages.
	26	Received payment from Tuxedos Unlimited.
	30	Received a telephone bill for $114, which will be paid in two weeks.

General Journal	Page 1
Date	Description	Post.
Ref.	Debit	Credit
				
				
					
				
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