Mundt Services uses the following accounts.
Cash Accounts Receivable - J. Lepowsky
Supplies
Prepaid Insurance
Accounts Payable - Southern Supplies
Mikaela Mundt, Capital
Mikaela Mundt, Drawing
Sales
Advertising Expense
Utilities Expense
Transactions:
Aug. 1. Mikaela Mundt invested $ 2,000.00 of her own money in the
business. Receipt No. 1.
3. Used business cash to purchase supplies costing $ 216.00. Wrote Check
No. 1.
4. Wrote Check No. 2 for insurance, $ 245.00.
5. Purchased supplies for $ 68.00 over the phone from Southern
Supplies, promising to send the check next week. Memo No.1.
11. Sent Check No. 3 to Southern Supplies, $ 68.00.
12. Sent a check for the electricity bill, $ 180.00. Check No. 4.
15. Wrote an $ 800.00 check to Ms. Mundt as a withdrawal of equity for
personal use. Used Check No. 5.
16. Sold services for $ 412.00 to J. Lepowsky, who agreed to pay for them
within ten days. Sales Invoice No. 1.
17. Recorded cash sales of $ 1,179.00. Calculator tape dated August $17.
T17.
18. Paid $ 132.00 for advertising. Wrote Check No. 6.
25. Received $ 412.00 from J. Lepowsky for the services performed last
week. Wrote Receipt No. 2.
Instructions:
Journalize the transactions completed during August of the current year.
Use page 1 of the journal given in the Working Papers. Remember to
record appropriate source document numbers.