Selected transactions for Sheffield's Dog Care are as follows during the month of March. March 1 Paid monthly rent of $1,270. 3 Performed services for $150 on account. 5 Performed services for cash of $80. 8 Purchased equipment for $635. The company paid cash of $85 and the balance was on account. 12 Received cash from customers billed on March 3. 14 Paid salaries and wages to employees of $555. 22 Paid utilities of $76. 24 Borrowed $1,590 from Grafton State Bank by signing a note. 27 Paid $230 to repair service for plumbing repairs. 28 Paid balance amount owed from equipment purchase on March 8. 30 Paid $2,100 for six months of insurance.

Question

Business

Aleena Juarez

19 October, 16:54

Selected transactions for Sheffield's Dog Care are as follows during the month of March. March 1 Paid monthly rent of $1,270. 3 Performed services for $150 on account. 5 Performed services for cash of $80. 8 Purchased equipment for $635. The company paid cash of $85 and the balance was on account. 12 Received cash from customers billed on March 3. 14 Paid salaries and wages to employees of $555. 22 Paid utilities of $76. 24 Borrowed $1,590 from Grafton State Bank by signing a note. 27 Paid $230 to repair service for plumbing repairs. 28 Paid balance amount owed from equipment purchase on March 8. 30 Paid $2,100 for six months of insurance.

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Trouble · Answer 1

The journal entries from March 1 to 30th March are detailed in the explanation.

Explanation:

The Question is to journalize the transactions of Sheffield's Dog Care during the Month of March

Date Account Particulars Debit Credit

Mar 1 Rent A/c $1,270

Cash $1,270

Being the record of Monthly rent payment for the month of March

Mar 3 Accounts Receivable $150

Service Revenue $150

Being the record of service provided on account

Mar 5 Cash $80

Service Revenue $80

Being the record of service provided for cash

Mar 8 Equipment $635

Cash $85

Accounts Payable $550

Being the record of equipment purchased

Mar 12 Cash $150

Accounts Receivable $150

Being the record of cash received from the customer

Mar 15 Wages Expenses $555

Cash $555

Being the record of wages paid

Mar 22 Utilities Expense $76

Cash $76

Being the record of utilities expense

Mar 24 Bank A/c $1,590

Notes Payable $1,590

Being the record of borrowed cash signing notes payable

Mar 27 Repair Expense A/c $230

Cash $230

Being the record of repair of expense

Mar 28 Accounts Payable A/c $550

Cash $550

Being the record of payment made to accounts payable

Mar 30 Prepaid Insurance A/c $1.910

Cash $1,910

Being the record of payment for insurance.