Journalize the following transactions for the month of July: July 1 K. Elliot deposited $10,000 in the bank in the name of the business (Elliot Company). 2 The business paid the monthly office rent, $500. 3 The business purchased office equipment on account, $1,500. 5 The business received consulting fees of, $750. 18 The business paid the monthly telephone bill, $75. 25 K. Elliot withdrew $200 for personal use. 30 The business purchased supplies for $1,000, paying $500 in cash and the rest on account. For a compound transaction, If an amount box does not require an entry, leave it blank.

Journalize the following transactions for the month of July: July 1 K. Elliot deposited $10,000 in the bank in the name of the business (Elliot Company). 2 The business paid the monthly office rent, $500. 3 The business purchased office equipment on account, $1,500. 5 The business received consulting fees of, $750. 18 The business paid the monthly telephone bill, $75. 25 K. Elliot withdrew $200 for personal use. 30 The business purchased supplies for $1,000, paying $500 in cash and the rest on account. For a compound transaction, If an amount box does not require an entry, leave it blank.

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Description: Journalize the following transactions for the month of July:July 1K. Elliot deposited $10,000 in the bank in the name of the business (Elliot Company).2The business paid the monthly office rent, $500.3The business purchased office equipment on accoun

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

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July 1	K. Elliot deposited $10,000 in the bank in the name of the business (Elliot Company).
2	The business paid the monthly office rent, $500.
3	The business purchased office equipment on account, $1,500.
5	The business received consulting fees of, $750.
18	The business paid the monthly telephone bill, $75.
25	K. Elliot withdrew $200 for personal use.
30	The business purchased supplies for $1,000, paying $500 in cash and the rest on account.