January 19. Wizsolution paid $20,000 for the purchase of land as a future building site.The correct journal entry is:
A. Dr. Land 20,000 Cr. Cash 20,000
B. Dr. Land 20,000 Cr. Accounts payable 20,000
C. Dr. Land 20,000 Cr. Accounts receivable 20,000
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January 15. Wizsolution received cash from clients for services provided, $3,928.The correct journal entry is:
A. Dr. Cash 3,928 Cr. Fees earned 3,928
B. Dr. Accounts receivable 3,928 Cr. Fees earned 3,928
C. Dr. Cash 3,928 Cr. Sales 3,928
January 8. Wizsolution purchased office machinery for $10,000 cash.The correct journal entry is:
A. Dr. Office machinery 10,000 Cr. Accounts payable 10,000
B. Dr. Office machinery 10,000 Cr. Notes payable 10,000
C. Dr. Office machinery 10,000 Cr. Cash 10,000
January 5. Wizsolution purchased supplies on account, $1,050.The correct journal entry is:
A. Dr. Supplies 1,050 Cr. Accounts payable 1,050
B. Dr. Supplies 1,050 Cr. Accounts receivable 1,050
C. Dr. Supplies expense 1,050 Cr. Accounts payable 1,050
Using cash to buy supplies.______ ______ Pay the money back 20,000.______ ______