Requirement 1. Journalize the transactions for both November and December, using the following accounts: CashCash; Accounts Receivable; Office Supplies; Prepaid Rent; Land; Building;
Canoes; Accounts Payable; Utilities Payable; Telephone Payable; Unearned Revenue; Notes Payable; Common Stock; Dividends; Canoe Rental Revenue; Rent Expense; Utilities Expense;
Wages Expense; and Telephone Expense. Explanations are not required. (Hint. For November transactions refer to the transaction analysis chart for November.) (Record debits first, then credits.
Exclude explanations from journal entries.)
Nov. 1: Received $24,000 cash to begin the company and issued common stock to Anna and Zion.
Date
Nov. 1
Cash
Common Stock
Accounts
Nov. 2: Signed a lease for a building and paid $1,300 for the first month's rent.
Date
Nov. 2
Accounts Payable
Prepaid Rent
Accounts
Debit
Credit
24,000
24,000
Debit
Credit
1,300
1,300
