Prepare General Journal Entries to Record the Following Transactions $\$ 1,600$

question 77

Essay

Prepare general journal entries to record the following transactions.Omit explanations.
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Jan. 3 Paid office rent, $\$ 1,600$ .
4 Bought a truck costing $\$ 50,000$ , making a down payment of $\$ 7,000$ .
6 Paid wages, $\$ 3,000$ .
7 Received $\$ 16,000$ cash from customers for services performed.
10 Paid $\$ 4,100$ owed on last month's bills.
12 Billed credit customers, $\$ 5,300$ .
17 Received $\$ 1,800$ from credit customers.
19 Tayl or Gordon, the owner, withdrew $\$ 1,700$ .
23 Paid $\$ 700$ on amount owed for truck.
29 Received bill for utilities expense, $\$ 255$ .

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Definitions:

Self-Disclosure

The act of sharing one's personal thoughts, feelings, or experiences with others, which can deepen relationships and foster closer bonds.

Gross Profit

The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Net Sales

The total revenue generated from goods or services sold, after deducting returns, allowances for damaged or missing goods, and discounts.

Cost of Goods Sold

Direct costs attributable to the production of the goods sold by a company, including materials and labor costs.