accounting journal entry practice

borrowed $45,000 from the bank and signed a note payable

cash: $45,000 (debit)

notes payable: $45,000 (credit)

paid cash of $40,000 to acquire land

land: $40,000 (debit)

cash: $40,000 (credit)

performed services for a customer on account $2,600

accounts receivable: $2,600 (debit)

service revenue: $2,600 (credit)

purchased office supplies on account, $300

office supplies: $300 (debit)

accounts payable: $300 (credit)

paid $1,200 on your account with Lowe's

accounts payable: $1,200 (debit)

cash: $1,200 (credit)

paid salary expense of $3,000

salary expense: $3,000 (debit)

cash: $3,000 (credit)

paid rent of $400

rent expense: $400 (debit)

cash: $400 (credit)

received $3,100 from customer as a payment on the customers account

cash: $3,100 (debit)

accounts receivable: $3,100 (credit)

received a $200 utility bill that will be paid next month

utilities expense: $200 (debit)

utilities payable: $200 (credit)

received $1,500 for services to be performed next month

cash: $1,500 (debit)

unearned service revenue: $1,500 (credit)

cash dividend of $1,800 was paid to stockholders

dividends: $1,800 (debit)

cash: $1,800 (credit)

performed services for a customer on account, $8,000

accounts receivable: $8,000 (debit)

service revenue: $8,000 (credit)

purchased supplies on account, $14,000

supplies: $14,000 (debit)

accounts payable: $14,000 (credit)

performed services for customers receiving $1,400

cash: $1,400 (debit)

service revenue: $1,400 (credit)

paid monthly office rent of $2,600

rent expense: $2,600 (debit)

cash: $2,600 (credit)

paid monthly salary to salesman, $2,000

salary expense: $2,000 (debit)

cash: $2,000 (credit)

received a utility bill of $180 to be paid next month

utility expense: $180 (debit)

utility payable: $180 (credit)

received $1500 for 3 months of service to be performed starting next month

cash: $1,500 (debit)

unearned service revenue: $1,500 (credit)

paid $1,200 on our account with a supplier

accounts payable: $1,200 (debit)

cash: $1,200 (credit)

received $20,000 cash and issued common stock

cash: $20,000 (debit)

common stock: $20,000 (credit)

received $29,000 cash and issued common stock

cash: $29,000 (debit)

common stock: $29,000 (credit)

purchased medical supplies on account, $18,000

medical supplies: $18,000 (debit)

accounts payable: $18,000 (credit)

cash dividends of $1,000 were paid to stockholders

dividends: $1,000 (debit)

cash: $1,000 (credit)

purchased equipment on account $2,100

equipment: $2,100 (debit)

accounts payable: $2,100 (credit)

paid utilities expense of $400

utilities expense: $400 (debit)

cash: $400 (credit)

borrowed $7,000 cash signing a notes payable

cash: $7,000 (debit)

notes payable: $7,000 (credit)

purchased office supplies for $800 and payed cash

office supplies: $800 (debit)

cash: $800 (credit)

performed service for customer and received cash $2,600

cash: $2,600 (debit)

service revenue: $2,600 (credit)

paid $400 on accounts payable

accounts payable: $400 (debit)

cash: $400 (credit)

paid rent expense for month $900

rent expense: $900 (debit)

cash: $900 (credit)