| January Transactions: | Amount | |||||||
| January 5 | Natalie teaches a class and collects cash. | $ 175 | ||||||
| January 8 | Natalie teaches a group of elementary school students how to make | 250 | ||||||
| cookies. At the end of the class, she leaves an invoice with the principal. | ||||||||
| January 10 | Receives cash in advance for cooking classes booked in February. | 675 | ||||||
| January 15 | Paid cash to suppliers for amounts due. | 600 | ||||||
| January 28 | Additional revenue earned during the month for cookie-making classes | 3,000 | ||||||
| amounts to $3,500; $3,000 received in cash and $500 still outstanding. | 500 | |||||||
| January 29 | Purchased baking supplies with cash. | 1,250 | ||||||
| January 31 | Paid assistant’s monthly salary. | 800 | ||||||
| January 31 | Natalie withdrew cash. | 500 | ||||||
| January 31 | Receives payment for the amount due from the school for the class | 250 | ||||||
| given January 8. | ||||||||
| January 31 | Pays cell phone bill for January service. Natalie uses the cell phone | 50 | ||||||
| exclusively for her business.
|
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prepare the journal entries for the January transactions. Use the drop-down list to select accounts
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