EX 2-7 Transactions

Chalet Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Andee Freese, Capital; Andee Freese, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.

Journalize the following selected transactions for October 2012 in a two-column journal.
Journal entry explanations may be omitted.

Oct. 1.    Paid rent for the month, $2,000.
        2.    Paid advertising expense, $900.
        5.    Paid cash for supplies, $1,300.
        6.    Purchased office equipment on account, $16,000.
        10.  Received cash from customers on account, $6,700.
        15.  Paid creditor on account, $1,200.
        27.  Paid cash for repairs to office equipment, $600.
        30.  Paid telephone bill for the month, $180.
        31.  Fees earned and billed to customers for the month, $26,800.
        31.  Paid electricity bill for the month, $400.
        31.  Withdrew cash for personal use, $3,000.

Answer:
2012
Oct. 1 Rent Expense ...................................................... 2,000
                                Cash................................................................ 2,000
        2 Advertising Expense .......................................... 900
                                Cash................................................................ 900
        5 Supplies............................................................... 1,300
                                Cash................................................................ 1,300
        6 Office Equipment ................................................ 16,000
                                Accounts Payable.......................................... 16,000
        10 Cash..................................................................... 6,700
                                Accounts Receivable .................................... 6,700
        15 Accounts Payable ............................................... 1,200
                                Cash................................................................ 1,200
        27 Miscellaneous Expense...................................... 600
                                Cash................................................................ 600
        30 Utilities Expense ................................................. 180
                                Cash................................................................ 180
        31 Accounts Receivable.......................................... 26,800
                                Fees Earned ................................................... 26,800
        31 Utilities Expense ................................................. 400
                                Cash................................................................ 400
        31 Andee Freese, Drawing ...................................... 3,000
                                Cash................................................................ 3,000