West Branch Rent All

General Journal

Date Accounts Title & Explanation PR Debit Credit

2005
Sept. 1 Cash 100,000
Capital Stock 100,000
(Issued 20,000 shares of Capital Stock)
Sept. 1 Rental Equipment 180,000
Cash 70,000
Note Payable 110,000
(Purchased Equipment and issued note for balance payment)
Sept. 1 Prepaid Rent 9,000
Cash 9,000
(Paid Advance rent for office and rental yard)
Sept. 4 Office Supplies 2,000
Account Payable 2,000
(Purchased office supplies on account. Payment due in 30 Days)
Sept. 8 Cash 20,000
Unearned Rental Fees 20,000
(Received Advance Rent from McNamer Construction)
Sept. 12 Salaries Expense 4,100
Cash 4,100
(Paid Salaries for the first two weeks of September)
Sept. 15 Cash 8,000
Accounts Receivable 1,000
Rental Fees Earned 9000
(Earned Rental Fee for the first 15 days of the September)
Sept. 17 Maintenance Expense 500
Accounts Payable 500
(Purchased spare parts to repair a rental tractor)
Sept. 23 Cash 300
Accounts Receivable 300
(Collected Accounts Receivable recorded on Sept. 15, 2005)
Sept. 26 Salaries Expense 4,100 4,100
Cash
(Paid biweekly salaries)
Sept. 27 Account Payable 500
Cash 500
(Paid account payable $500)
Sept. 28 Dividend 4,000
Dividend Payable 4,000
(Declared a dividend of 20 cents per share, payable by Oct. 15, 2005)
Sept. 29 Unexpired Insurance 2,700
Cash 2,700
(Purchased public liability insurance policy)
Sept. 30 Utilities Expense 600
Accounts Payable 600
(Utilities Bill received for the month of September)
Sept. 30 Cash 10,000
Rental Fee Earned 10,000
(Rental Fees earned for Second Half of September)