Assume the following T accounts reflect Joy Co.’s general ledger and that seven transactions a through g are posted to them. Provide a short description of each transaction. Include the amounts in your descriptions.
|
Cash |
|||
|
(a) |
7,000 |
(b) |
3,600 |
|
(e) |
2,500 |
(c) |
600 |
|
(f) |
2,400 |
||
|
(g) |
700 |
||
|
Office Supplies |
|||
|
(c) |
600 |
||
|
(d) |
200 |
||
|
Prepaid Insurance |
|||
|
(b) |
3,600 |
||
|
Equipment |
|||
|
(a) |
5,600 |
||
|
(d) |
9,400 |
||
|
Automobiles |
|||
|
(a) |
11,000 |
||
|
Accounts Payable |
|||
|
(f) |
2,400 |
(d) |
9,600 |
|
D. Joy, Capital |
|||
|
(a) |
23,600 |
||
|
Delivery Services Revenue |
|||
|
(e) |
2,500 |
||
|
Gas and Oil Expense |
|||
|
(g) |
700 |
||
|
|
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Prepare general journal entries for each of the seven transactions a through g.