october 1 martins buys two new saws on credit at $375 each. the saws are added to Martin's rental fleet; paymentis due in 30 days.
october 8 martin accepts advance deposits for tool rental of $75.
october 15 martin receives $150. bill for electricity provided by local eclectronic company; payment is due in 30 days
october 20 martin charges customers $750 for tools rentals; payments is due from customers in 30 days
october 31 martin receives payments of $500 from customers billed for rentals on october 20.
2007-12-19 07:09:51 · 1 answers · asked by Terry A 1 in Business & Finance ➔ Other - Business & Finance
october 1 martins buys two new saws on credit at $375 each. the saws are added to Martin's rental fleet; paymentis due in 30 days
Dr Rental equipment $750
Cr A/cs payable $750
october 8 martin accepts advance deposits for tool rental of $75
Dr Cash $75
Cr Unearned rental revenue $75
october 15 martin receives $150. bill for electricity provided by local eclectronic company; payment is due in 30 days
Dr Utilities expense $150
Cr Utilities payable $150
october 20 martin charges customers $750 for tools rentals; payments is due from customers in 30 days
Dr A/cs receivable $750
Cr Rental revenue $750
october 31 martin receives payments of $500 from customers billed for rentals on october 20
Dr Cash $500
Cr A/cs receivable $500
2007-12-19 17:54:13 · answer #1 · answered by Sandy 7 · 0⤊ 0⤋