The Transactions Of The Speedy Delivery Service Are Recorded In The General Jour

The transactions of the Speedy Delivery Service are recorded in the general journal below. You are to post the journal entries to the accounts in the general ledger. After all entries have been posted, you are to prepare a trial balance on the form provided.

                                                               General Journal


      Date          Account Titles and Explanation                                              Debit        Credit



Sept.    1         Cash                                                                                                               25,000

                                 Common Stock                                                                                    25,000

                                      (Stockholders invested cash in business)

             4         Equipment                                                                                  60,000

                                 Cash                                                                                                      10,000

                                 Notes Payable                                                                                     50,000

                                      (Paid cash and issued 2-year, 6%, note for

                                      delivery trucks)

             8         Rent Expense                                                                               1,000

                                 Cash                                                                                                        1,000

                                      (Paid September rent)

           15         Prepaid Insurance                                                                       1,400

                                 Cash                                                                                                        1,400

                                      (Paid one-year liability insurance)

           18         Cash                                                                                                                 4,500

                                 Service Revenue                                                                                   4,500

                                      (Received cash for delivery services)

           20         Salaries and Wages Expense                                                        500

                                 Cash                                                                                                           500

                                      (Paid salaries for current period)

           25         Utilities Expense                                                                            100

                                 Accounts Payable                                                                                    100

                                      (Received a bill for September utilities)

           30         Dividends                                                                                        750

                                 Cash                                                                                                           750

                                      (Paid dividends)

           30         Accounts Receivable                                                                   1,000

                                 Service Revenue                                                                                   1,000

                                      (Billed customer for delivery service)

General Ledger


Accounts Receivable

Prepaid Insurance


Accounts Payable

Notes Payable

Common Stock


Service Revenue

Rent Expense

Salaries and Wages Expense

Utilities Expense


Trial Balance

September 30, 2017




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