Reference no: EM133112654

Question - Prepare journal entries for the following transactions for January Year 2, using the letter of each transaction as a reference:

a) Sold goods worth $30,000, with $10,000 on account and the rest received in cash.

b) Rented a part of the building to a bicycle repair shop; $1,200 rent received for January.

c) Received a $3,000 deposit from a customer for goods to be provided in February.

d) Purchased supplies for $4,800 cash.

e) Received $5,000 from customers as payment on their accounts.

f) Ordered $20,000 of furniture, but haven't yet received.

g) Received an electric and gas utility bill for $2,000 for January services to be paid in February.

h) Paid $16,000 in wages to employees in January for work done this month.