Business, 30.04.2021 20:50, rosieposie27
Described below are accounting-related transactions which might be recorded by a law firm. Several accounts from the company's chart of accounts are also listed below. Using these account titles, record each transaction in proper journal entry format. A written explanation for each journal entry and a date is not required. Just refer to each journal entry by the corresponding letter (A-F). Accounts listed below may be used more than once or not at all.
Accounts:
Cash Supplies Expense
Accounts Receivable Wages Payable
Supplies Revenue
Accounts Payable Selling Expense
Unearned Revenue Wage Expense
a. Bills are mailed for legal services provided to customers totaling $225,000; payment is due in 15 days.
b. Customers pay $103,000 for legal services in advance.
c. Employees earn $30,000 of wages, but are only paid $14,000 in the current period. The remaining balance will be paid next month.
d. Office supplies are purchased for $12,500 on account.
e. Payments of $134,000 are received from customers for amounts billed in a transaction A.
f. Supplies have not been used yet, but full payment is made for the supplies purchased in transaction D.
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Described below are accounting-related transactions which might be recorded by a law firm. Several a...
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