The following transactions occurred for Molina Engineering:
View the transactions.
Journalize the transactions of Molina Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable;
Notes Payable; Molina, Capital; Molina, Withdrawals; Service Revenue; and Utilities Expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
July 2: Received $10,000 contribution from Ruby Molina, owner, in exchange for capital.
Accounts and Explanation
Date
Jul. 2
Cash
Accounts Receivable
Transactions
Jul. 2
Received $10,000 contribution from Ruby Molina, owner, in exchange for
capital.
Jul. 4
Paid utilities expense of $400.
Jul. 5
Purchased equipment on account, $2,100.
Debit
Cred
Jul. 10
Performed services for a client on account, $2,000.
10000
Jul. 12 Borrowed $7,000 cash, signing a notes payable.
Jul. 19 Molina withdrew $500 cash from the business.
Jul. 21 Purchased supplies for $800 and paid cash.
Jul. 27 Paid the liability from July 5.
