Some examples for u to try in the next few slides

After u hv tried the entries, click on yellow

sticky tapes to open up for the answers.
 Business Transactions
Dec 4

Internet Solutions
A= L+ OE
purchased office Office Accounts
equipment on
account for $1,800
equipment Payable
from Executive +1,800 +1,800
Supply.

General Journal
Date Description Debit Credit A,E,D L,R,C
(Debit) (Credit)
Office Equipment 1,800
Accounts Payable 1,800 Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 6

Internet Solutions
A= L+ OE
paid $180 for a Cash Capital
newspaper
advertisement -180 -180

General Journal
Date Description Debit Credit A,E,D L,R,C
Miscellaneous expense 180 (Debit) (Credit)
Cash 180
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 11

Internet Solutions
A= L+ OE
paid creditors Cash Accounts
$400.
-400 payable
-400

General Journal
Date Description Debit Credit A,E,D L,R,C
(Debit) (Credit)
Accounts payable 400
Cash 400 Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 13

Internet Solutions
A= L+ OE
paid $950 of salaries. Cash -950 Salaries exp
-950

General Journal
Date Description Debit Credit A,E,D L,R,C
Salaries exp 950 (Debit) (Credit)
Cash 950
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 16

Internet Solutions
A= L+ OE
received $3,100 Cash Fees earned
from fees earned.
+3,100 +3,100

General Journal
Date Description Debit Credit A,E,D L,R,C
(Debit) (Credit)
Cash 3,100
Fees earned 3,100 Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 16

Fees earned on
A= L+ OE
account totaled Accounts +1,750
$1,750.
Receivable Fees Earned
+1,750

General Journal
Date Description Debit Credit A,E,D L,R,C
Accounts receivable 1,750 (Debit) (Credit)
Fees earned 1,750
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 20

Internet Solutions
A= L+ OE
paid $900 to Cash Accounts payable
Executive Supply.
-900 -900

General Journal
Date Description Debit Credit A,E,D L,R,C
Accounts payable 900 (Debit) (Credit)
Cash 900
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 21

Internet Solutions
A= L+ OE
received $650 Cash +650
from customers in
payment of Accounts payable
amounts owing. -650

General Journal
Date Description Debit Credit A,E,D L,R,C
Cash 650 (Debit) (Credit)
Accounts receivable 650
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 23

Internet Solutions
A= L+ OE
paid $1,450 for Supplies+1,450
supplies
Cash –1,450

General Journal
Date Description Debit Credit A,E,D L,R,C
(Debit) (Credit)
Supplies 1,450
Cash 1,450 Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 27

Internet Solutions
A= L+ OE
paid $1,200 of Cash -1,200Salaries exp
salaries.
-1,200

General Journal
Date Description Debit Credit A,E,D L,R,C
Salaries exp 1,200 (Debit) (Credit)
Cash 1,200
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 31

Internet Solutions
A= L+ OE
paid its $310 Cash -310 Utilities exp
telephone bill.
-310

General Journal
Date Description Debit Credit A,E,D L,R,C
Utilities exp 310 (Debit) (Credit)
Cash 310
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 31

Internet Solutions
A= L+ OE
paid its $225 Cash -225 Utilities exp
electricity bill.
-225

General Journal
Date Description Debit Credit A,E,D L,R,C
Utilities exp 225 (Debit) (Credit)
Cash 225
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 31

Internet Solutions
A= L+ OE
received $2,870 Cash Fees earned
from fees earned.
+2,870 +2,870

General Journal
Date Description Debit Credit A,E,D L,R,C
(Debit) (Credit)
Cash 2,870
Fees earned 2,870 Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 31

Fees earned on
A= L+ OE
account totaled Accounts +1,120
$1,120.
Receivable Fees Earned
+1,120

General Journal
Date Description Debit Credit A,E,D L,R,C
Accounts receivable 1,120 (Debit) (Credit)
Fees earned 1,120
Increase Debit Credit
Decrease Credit Debit
 Business Transactions
Dec 31

Chris Chee
A= L+ OE
withdraws $2,000 Cash -2,000
for personal use.
-2,000 Drawings

General Journal
Date Description Debit Credit A,E,D L,R,C
Drawings 2,000 (Debit) (Credit)
Cash 2,000
Increase Debit Credit
Decrease Credit Debit