Mason's Restaurant and Catering Is a Sole Proprietorship Owned by Michael

question 48

Essay

Mason's Restaurant and Catering is a sole proprietorship owned by Michael Mason.The business had the following transactions during the month of May.
May 1 Mason contributed $\$ 45,000$ cash in exchange for capital.
$\quad$ $\quad$ 5 Paid monthly rent on the restaurant equipment, $\$ 1,650$ .
$\quad$ $\quad$ 12 Purchased office supplies on account, $\$ 1,500$ .
$\quad$ $\quad$ 15 Borrowed $\$ 25,000$ from the bank for business use.
$\quad$ $\quad$ 26 Paid $\$ 30,000$ cash for a delivery van.
$\quad$ $\quad$ 28 Paid $\$ 1,500$ on account.
$\quad$ $\quad$ 29 The business received $\$ 1,600$ for catering services for a wedding on June 11 .
$\quad$ $\quad$ 31 Revenues earned during the month included $\$ 20,500$ cash and $\$ 14,500$ on account.
Received the May utility bill for $\$ 1,000$ . The amount is due on June 10 and will be paid 31 on that date.
$\quad$ $\quad$ 31 Paid employees' salaries $\$ 5,500$ ; restaurant rent $\$ 3,000$ and advertising for May $\$ 800$ .
$\quad$ $\quad$ Record a compound entry.
$\quad$ $\quad$ Received the bill for catering food and supplies used in May, $\$ 8,500$ .
$\quad$ $\quad$ 31 The bill is due on June 15 and will be paid on that date
$\quad$ $\quad$ 31 Michael Mason withdrew $\$ 6,000$ cash from the business for personal use. The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Delivery Van; Accounts Payable; Utilities Payable; Unearned Revenue; Notes Payable; Mason,Capital; Mason,Withdrawals; Service Revenue; Salaries Expense; Equipment Rent Expense; Restaurant Rent Expense; Utilities Expense; Catering Expense; and Advertising Expense.
Required: Journalize each transaction.Explanations are not needed.

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Definitions:

Child Birth

The process by which a baby is born, encompassing the labor and delivery phases.

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The intentional use of physical force to harm another person, causing injury or trauma.

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A decreased sensitivity to emotional stimuli, often resulting from severe stress or trauma, leaving individuals feeling detached from their feelings or surroundings.