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Samson's Journal Entry

The general journal records transactions for Arlene Samson's business from October 2020. It shows an initial investment of $50,000 cash. Throughout the month, supplies and equipment were purchased on account, services were provided to clients and partially paid in cash, and expenses were paid. The journal ended balanced with total debits and credits of $311,500.

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Shayne Pagwagan
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323 views2 pages

Samson's Journal Entry

The general journal records transactions for Arlene Samson's business from October 2020. It shows an initial investment of $50,000 cash. Throughout the month, supplies and equipment were purchased on account, services were provided to clients and partially paid in cash, and expenses were paid. The journal ended balanced with total debits and credits of $311,500.

Uploaded by

Shayne Pagwagan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Arlene Samson

General Journal
As of October 2020
Date Description Debit Credit
1-Oct Cash 50,000
Samson's Capital 50,000
To record Samson invested money in the business

2 Architectural Supplies 3,000


Accounts Payable 3,000
To record purchased supplies on account

3 Architectural Equipment 40,000


Cash 20,000
Notes Payable 20,000
To record paid equipment 20,000 cash and 20,000 on
account

4 Accounts Receivable 60,000


Professional Fees 60,000
To record the rendered service on account

5 Accounts Payable 1,500


Cash 1,500
To record payment on cash

6 Cash 80,000
Accounts Receivable 20,000
Professional Fee 100,000
To record rendered service paid 80,000 cash and 20,000
on account

7 Utilities Expense 25,000


Cash 25,000
To record payment for utilities expense

8 Supplies Expense 2,000


Architectural Supplies 2,000
To record purchased supplies expense

9 Cash 30,000
Accounts Receivable 30,000
To record earned revenue

TOTAL 311,500 311,500

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