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Journalize the transactions for seymour butts and co

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Reference no: EM133003542

Seymour Butts &Co. builds stands for sports stadiums. During August the company had the following transactions:

Date Transaction

  • 8/5. Collected $50,000 from Hamilton College for refurbishments to Steuben Field completed during June.
  • 8/10 Received $30,000 advance payment from Williams College for the installation of new end-zone seating in Farley-Lamb Field.
  • 8/14 Paid $27,000 for building materials purchased during July.
  • 8/19 Completed installation of new seating in Trinity's Miller/Jessee Field and collected $45,000 cash for the work.
  • 8/24 Purchased woodworking equipment on account. The cost of the equipment was $82,000.
  • 8/31 Received $6,000 ConEdison utility bill for August. Bill is payable by September 20th.

The company's ledger includes the following accounts:

  • Cash, Accounts Receivable, Equipment, Accounts Payable, Unearned Revenue, Construction Revenue, Utilities Expense.

Problem 1: Journalize the above transactions in the space below. Skip a line between entries, use correct account names and make sure the entries are in the proper form.

Reference no: EM133003542

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