The Accounts and Balances for Paw Prints Pet Sitters on November

question 40

Essay

The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. The following transactions occurred during the month of November.
a.Collected $350 from credit customers
b.Issued a check for $700 for rent
c.Paid $1,900 for salaries
d.The owner withdrew $500 in cash for personal expenses
e.Issued a check for $200 to pay the monthly utility bill
f.Received $2,845 in cash for services performed
g.Purchased office equipment for $1,350 on credit
Using the information shown,prepare a trial balance for Paw Prints Pet Sitters at November 30,2016.

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Definitions:

Tender

An offer to perform an obligation or a bid to buy securities, goods, or services at a specific price.

Tender of Payment

The presentation of money or a means of payment to fulfill a debt or obligation, usually in the exact amount owed.

Conforming Goods

Goods that meet the specifications and standards outlined in a sales contract.

Legal Tender

Money that must be accepted if offered in payment of a debt; the legally recognized form of payment within a given jurisdiction.