January 28. Wizsolution made a partial payment of $500 cash on the supplies and office equipment purchased in transaction of January 15.The correct journal entry is:
A. Dr. Miscellaneous expense 500 Cr. Cash 500
B. Dr. Notes payable 500 Cr. Cash 500
C. Dr. Accounts payable 500 Cr. Cash 500
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January 26. Wizsolution received $1,800 cash as partial payment from the client described in transaction of Jan. 20.
A. Dr. Cash 1,800 Cr. Accounts receivable 1,800
B. Dr. Cash 1,800 Cr. Fees earned 1,800
C. Dr. Cash 1,800 Cr. Unearned fees 1,800
January 26. Wizsolution received $1,800 cash as partial payment from the client described in transaction of January 20.The correct journal entry is:
A. Dr. Cash 1,800 Cr. Sales 1,800
B. Dr. Cash 1,800 Cr. Fees earned 1,800
C. Dr. Cash 1,800 Cr. Accounts receivable 1,800
January 22. Jack Johnson withdrew $3,025 cash from Wizsolution for personal use.The correct journal entry is:
A. Dr. Jack Johnson, Capital 3,025 Cr. Cash 3,025
B. Dr. Jack Johnson, Drawing 3,025 Cr. Cash 3,025
C. Dr. Jack Johnson, Drawing 3,025 Cr. Jack Johnson, Capital 3,025
January 5. Wizsolution purchased a $144,000 building to use as an office. Wizsolution paid $15,000 in cash and signed a note payable promising to pay the $129,000 balance over the next ten years.The correct journal entry is:
A. Dr. Building 144,000 Cr. Cash 144,000
B. Dr. Building 144,000 Cr. Cash 15,000 Accounts payable 129,000
C. Dr. Building 144,000 Cr. Cash 15,000 Notes payable 129,000