Accounting Final Chapter 3 Journal Entries

Pay off accounts payable in full

Debit Accounts Payable Credit Cash

Pay advertising expenses in cash

Debit Advertising Expense Credit Cash

Receive cash from customers for services performed

Debit Cash Credit Accounts Receivable

Stockholders invest cash into business in exchange for common stock

Debit Cash Credit Common Stock

Sell 150 coupon books for $20 cash each

Debit Cash Credit Unearned Service Revenue

Pay a cash dividend

Debit Cash Dividend Credit Cash

Purchase equipment on account payable in 30 days

Debit Equipment Credit Accounts Payable

Purchase Golf Land for cash. Price consists of $22,000 land, $9,190 building, $9,110 equipment

Debit Land Debit Building Debit Equipment Credit Cash

Pay cash for 1 year insurance policy

Debit Prepaid Insurance Credit Cash

Pay salaries

Debit Salaries and wages expense Credit Cash

Pay advertising expenses in cash

Decrease SE Decrease Assets

Stockholders invest cash into business in exchange for common stock

Increase Assets Increase SE