Class Assignment 3-6a

This is the trial balance of Wildhorse Co. on September 30.

WILDHORSE CO.
Trial Balance
September 30, 2017
Debit

Credit

Cash $ 24,160
Accounts Receivable 7,560
Supplies 4,750
Equipment 10,650
Accounts Payable $ 9,760
Unearned Service Revenue 3,750
Common Stock 19,960
Retained Earnings 13,650
$47,120 $47,120

The October transactions were as follows.

Oct. 5 Received $1,290 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,330.
15 Paid employee salaries $1,020.
17 Performed $600 of services in exchange for cash.
20 Paid $1,860 to creditors for accounts payable due.
29 Paid a $300 cash dividend.
31 Paid utilities $410.

Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1.

Cash

Accounts Receivable

Supplies

Equipment

Accounts Payable

Unearned Service Revenue

Common Stock

Retained Earnings

SHOW LIST OF ACCOUNTS

LINK TO TEXT

LINK TO TEXT

LINK TO TEXT

Journalize the transactions. (If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

SHOW LIST OF ACCOUNTS

LINK TO TEXT

LINK TO TEXT

LINK TO TEXT

Post to the ledger accounts. (Post entries in the order of information presented in the question.)

Cash
10/1 Bal.

24,160

Accounts Receivable

10/1 Bal.

7,560

Supplies

10/1 Bal.

4,750

Equipment

10/1 Bal.

10,650

Accounts Payable

10/1 Bal.

9,760

Unearned Service Revenue

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