Maria Sanchez Operates a Typing Service

question 49

Essay

Maria Sanchez operates a typing service. During the month of July, the first month of operations, the firm had the following transactions. Record these transactions on page 2 of a general journal. Omit the descriptions
July
4 Provided services for $3,550 on credit
5 Purchased a new computer for $1,250, issued a check for a $500 down
Purchased a new computer for $1,250, issued a check for a $500 down payment, with the balance payable in 30 days
7 Issued a check in the amount of $1,800 to pay a creditor on account
8 Collected $1,000 in cash from credit customers
9 Issued check for $3,000 for the August and September rent

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Definitions:

Tort Law

A section of law that deals with civil wrongs and damages, allowing victims to seek compensation.

Objectives

Specific, measurable goals designed to achieve desired outcomes in a given timeframe.

Res Ipsa Loquitur

A legal doctrine that allows for the presumption of negligence in a lawsuit if the accident could not have happened without negligence.

Negligence

The failure to take reasonable care to avoid causing injury or loss to another person, resulting in legal liability for the negligent party.