Business, 13.10.2020 04:01 Kinglilray998

Sarasota 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 $24,300 cash in exchange for common stock of the corporation.
1 Hired a secretary-receptionist at a salary of $506 per week, payable monthly.
2 Paid office rent for the month $1,215.
3 Purchased architectural supplies on account from Burmingham Company $1,755.
10 Completed blueprints on a carport and billed client $2,565 for services.
11 Received $945 cash advance from M. Jason to design a new home.
20 Received $3,780 cash for services completed and delivered to S. Melvin.
30 Paid secretary-receptionist for the month $2,024.
30 Paid $405 to Burmingham Company for accounts payable due.

Required:
Journalize the transactions.

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Answer from: Eltravieso

Date Account Titles and Explanation Debit Credit

Apr. 1 Cash $24,300

Common Stock $24,300

(To record the amount of cash invested into the business)

Apr. 1 No entry for hiring an employee because there is no monetary transaction.

Apr. 2 Office Rent $1,215

Cash $1,215

(To record the payment of office rent by cash)

Apr. 3 Supplies $1,755

Accounts Payable $1,755

(To record the purchase of supplies on account)

Apr. 10 Accounts Receivable $2,565

Service Revenue $2,565

(To record the services provided on account)

Apr. 11 Cash $945

Unearned Service Revenue $945

(To record the receipt of cash for the services to be

provided in future)

Apr. 20 Cash $3,780

Accounts Receivable $3,780

(To record the collection of cash from the

credit services provided)

Apr. 30 Salaries Expense $2,024

Cash $2,024

(To record the payment of salaries by cash)

Apr. 30 Accounts Payable $405

Cash $405

(To record the payment of accounts payable due)

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Answer from: Quest

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Sarasota Architects incorporated as licensed architects on April 1, 2022. During the first month of...

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