Solution-How would prepare journal entries for each

How would prepare journal entries for each transaction

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Reference no: EM132485162

Jan Haley owns and operates Haley's Dry Cleaners. The following occurred during December:

Point a. On December 1, Haley prepaid rent on her store for December and January with $2,000 cash.

Point b. On December 1, Haley purchased insurance with cash in the amount of $2,400 that will last six months.

Point c. Haley paid $900 of her accounts payable balance.

Point d. Haley paid off all of her salaries payable balance.

Point e. Haley purchased supplies on account in the amount of $2,400.

Point f. Haley paid a salary to her assistant of $1,000 in cash for work done in the first two weeks of December.

Point g. Haley dry-cleaned clothes for customers on account in the amount of $8,000.

Point h. Haley collected $6,300 of her accounts receivable balance.

Point i. Haley paid tax of $750 in cash.

Question 1: How would prepare journal entries for each transaction?

Reference no: EM132485162

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How would prepare journal entries for each transaction

Reference no: EM132485162

Reference no: EM132485162

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