Cash 3 5320 Accounts Receivable 5320 To record cash collection from students

Cash 3 5320 accounts receivable 5320 to record cash

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Cash(3)5,3200Accounts Receivable05,320To record cash collection from students.Cash(4)1,5000Notes Payable01,500To record note payable.Accounts Receivable(5)7,5000Instruction Fees Earned07,500To record June billings.Interest Expense(6)300Cash030To record payment of interest.Advertising Expense(7)3500Cash0350
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General JournalDateDescriptionPost ref.DebitCreditTo record payment for advertising.Rent Expense(8)5500Cash0550To record payment for costume rental.Cash(9)2,1000Performance Revenue02,100To record receipts for admission fees.Accounts Payable(10)4800Cash0480To record payment owed on account.Utilities Expense(11)4650Accounts Payable0465To record June utilities invoice.Dividends(12)9000Cash0900To record cash dividend.Piano(13)5,0000Cash05,000To record purchase of a piano.
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CashBeg5,930975(2)0240(3)5,3200(4)1,5000(6)030(7)0350(8)0550(9)2,1000(10)0480(12)0900(13)05,000Bal6,3250Accounts ReceivableBeg8,0000(3)05,320(5)7,5000Bal10,1800Piano(13)5,0000Bal5,0000Common StockBeg07,870
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Bal07,870Accounts PayableBeg0480(10)4800(11)0465Bal0465Notes PayableBeg03,580(4)01,500Bal05,080Retained EarningsBeg02,000Bal02,000Dividends(12)9000Bal9000
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Instructional Fees Earned(5)07,500Bal07,500Performance Revenue(9)02,100Bal02,100Rent Expense(1)9750(2)2400(8)5500Bal1,7650Utilities Expense(11)4650Bal4650Advertising Expense(7)3500Bal3500Interest Expense(6)300Bal300
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MEHL DANCE STUDIO Trial Balance June 30DebitCreditCash6,3250Accounts Receivable10,1800Piano5,0000Accounts Payable0465Notes Payable05,080Common Stock07,870Retained Earnings02,000Dividends9000Instructional Fees Earned07,500Performance Revenue02,100Rent Expense1,7650Utilities Expense4650Advertising Expense3500Interest Expense300Totals25,01525,015CLICK HERE TO REVIEW LEARNING OBJECTIVES±
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QUESTION 4CorrectMark 10.00 out of 10.00Prepare an Income Statement from an Adjusted Trial BalanceThe Century Company’s adjusted trial balance contains the following balances as of December31:
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