The October transactions were as follows. Oct. 5 Received $1,490 in cash from customers for accounts receivable due. 10 Billed customers for services performed $5,090. 15 Paid employee salaries $1,380. 17 Performed $570 of services in exchange for cash. 20 Paid $1,990 to creditors for accounts payable due. 29 Paid a $260 cash dividend. 31 Paid utilities $340. Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1.

Question

contestada

Respuesta :

jepessoa jepessoa · Answer 1 · 2021-02-14T02:27:51+01:00

Answer:

there are no initial balances, but I can still record the journal entries that would go into the general ledger:

Oct. 5 Received $1,490 in cash from customers for accounts receivable due.

Dr Cash 1,490

Cr Accounts receivable 1,490

Oct. 10 Billed customers for services performed $5,090.

Dr Accounts receivable 5,090

Cr Service revenue 5,090

Oct. 15 Paid employee salaries $1,380.

Dr Salaries expense 1,380

Cr Cash 1,380

Oct. 17 Performed $570 of services in exchange for cash.

Dr Cash 570

Cr Service revenue 570

Oct. 20 Paid $1,990 to creditors for accounts payable due.

Dr Accounts payable 1,990

Cr Cash 1,990

Oct. 29 Paid a $260 cash dividend.

Dr Dividends

Cr Cash 260

Oct. 31 Paid utilities $340.

Dr Utilities 340

Cr Cash 340