Flounder Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $21,420 cash in exchange for common stock of the corporation.
1 Hired a secretary-receptionist at a salary of $446 per week, payable monthly.
2 Paid office rent for the month $1,071.
3 Purchased architectural supplies on account from Burmingham Company $1,547.
10 Completed blueprints on a carport and billed client $2,261 for services.
11 Received $833 cash advance from M. Jason to design a new home.
20 Received $3,332 cash for services completed and delivered to S. Melvin.
30 Paid secretary-receptionist for the month $1,784.
30 Paid $357 to Burmingham Company for accounts payable due.
Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Flounder Architects

General Journal

Apr. 1

Cash $21,420 (debit)

Common Stock $21,420 (credit)

Cash Received in Exchange of Common Stock

Apr. 1

Salaries Expense $1,784 (debit)

Salaries Payable $1,784 (credit)

Secretary-receptionist salary due at end of month

Apr. 2

Rent Expenses $1,071 (debit)

Cash $1,071 (credit)

Paid for Rent

Apr. 3

Supplies $1,547 (debit)

Accounts Payable ; Burmingham Company $1,547 (credit)

Architectural supplies purchased on credit

Apr. 10

Accounts Receivable $2,261 (debit)

Service Revenue $2,261 (credit)

Services completed but not yet paid for

Apr. 11

Cash $833 (debit)

Deferred Revenue $833 (credit)

Received cash for services to be completed

Apr. 20

Cash $3,332 (debit)

Service Revenue $3,332 (credit)

Cash received for services completed

Apr. 30

Salaries Payable $1,784 (debit)

Cash $1,784 (credit)

Secretary-receptionist salary paid

Apr. 30

Accounts Payable :  Burmingham Company $357 (debit)

Cash $357 (credit)

Partial settlement of account payable

Explanation:

See the Journal Entries and Narrations that i have prepared above.

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