Question

transactions coa june transactions jun. 5 paid cash for insurance, $300.00. c2. 9 bought supplies on account from bayside supplies, $700.00. m1. 10 paid cash on account to bayside supplies, $400.00. c3. michelle sullivan owns sullivans service center, which uses the following accounts. journalize the transactions continuing on the next blank line of page 1 of the journal. source documents are abbreviated as follows: check, c; memorandum, m. page 1 journal date account title doc. no. post. ref. general debit credit sales credit debit cash credit 1 jun.2 michelle sullivan, capital r1 3,200.00 3,200.00 2 3 supplies c1 600.00 600.00

Explanation:

Step1: Record June 5 transaction

When paying cash for insurance, the Insurance Expense account is debited and the Cash account is credited.

Date	Account Title	Doc. No.	Post. Ref.	General Debit	General Credit	Sales Credit	Cash Debit	Cash Credit

Step2: Record June 9 transaction

When buying supplies on account, the Supplies account is debited and the Accounts Payable - Bayside Supplies account is credited.

Date	Account Title	Doc. No.	Post. Ref.	General Debit	General Credit	Sales Credit	Cash Debit	Cash Credit
	Accounts Payable - Bayside Supplies				700.00

Step3: Record June 10 transaction

When paying cash on account to Bayside Supplies, the Accounts Payable - Bayside Supplies account is debited and the Cash account is credited.

Date	Account Title	Doc. No.	Post. Ref.	General Debit	General Credit	Sales Credit	Cash Debit	Cash Credit

Answer:

Date	Account Title	Doc. No.	Post. Ref.	General Debit	General Credit	Sales Credit	Cash Debit	Cash Credit
Jun. 9	Supplies	M1		700.00
	Accounts Payable - Bayside Supplies				700.00
Jun. 10	Accounts Payable - Bayside Supplies	C3		400.00				400.00