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  • Nu Assignment 3 Midterm

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    Jay Francis Clave
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    This document contains journal entries for Kauai Adventures for the month of March. It records rent income of $50,100, purchases of inventory for $1,050, payment of wages of $8,200, rent expense of $700, purchase of transportation equipment for $15,900 by cash and loans payable, collection of accounts receivable of $950, payment of accounts payable of $870, obtaining a notes payable of $15,000, utility expense of $145, and advertising expense of $1,260. The total debits and credits for the month were $94,175.

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    This document contains journal entries for Kauai Adventures for the month of March. It records rent income of $50,100, purchases of inventory for $1,050, payment of wages of $8,200, rent expense of $700, purchase of transportation equipment for $15,900 by cash and loans payable, collection of accounts receivable of $950, payment of accounts payable of $870, obtaining a notes payable of $15,000, utility expense of $145, and advertising expense of $1,260. The total debits and credits for the month were $94,175.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    4 views1 page

    Nu Assignment 3 Midterm

    Uploaded by

    Jay Francis Clave
    This document contains journal entries for Kauai Adventures for the month of March. It records rent income of $50,100, purchases of inventory for $1,050, payment of wages of $8,200, rent expense of $700, purchase of transportation equipment for $15,900 by cash and loans payable, collection of accounts receivable of $950, payment of accounts payable of $870, obtaining a notes payable of $15,000, utility expense of $145, and advertising expense of $1,260. The total debits and credits for the month were $94,175.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Kauai Adventures Journal Entries For March

    Date Accounts/ Remarks Debit Credit


    March 2 Cash 50,100

    Rent Income 50,100


    To record rent income received

    March 3 Inventory 1,050

    Accounts Payable 1,050


    To record purchased inventory

    March 6 Salary Expense 8,200

    Cash 8,200
    To record wages paid to employee

    March 9 Rent Expense 700

    Cash 700
    To record the rent expense for the month

    March 12 Transportation Equipment 15,900

    Cash 1,000

    Loans Payable 14,900

    To record purchased equipment and loans


    payable
    March 13 Cash 950

    Account Receivable 950


    To record collected from accounts receivable

    March 16 Account Payable 870

    Cash 870
    To record payment on credit

    March 23 Cash 15,000

    Notes Payable 15,000


    To record cash payable

    March 27 Utilities Expense 145

    Cash 145
    To record utility expense for the month

    March 30 Advertising Expense 1,260

    Cash 1,260
    To record monthly advertising bill

    Total 94,175 94,175


    Jay Francis G. Clave

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