On August 30th, JumpStart Paid Numerous Bills Which Include

question 43

Essay

On August 30th, JumpStart paid numerous bills which include:
Payment to the landlord for August rent, $950
Payment to the Gas & Electric Company for August's bill, $525
Payment of employee wages for the last half of August, $1,880
Payment of shopping center's parking lot cleaning fee, $275
Journalize these payments as one compound journal entry.

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Definitions:

Outstanding

Refers to something that is still due, unresolved, or remaining to be paid or completed.

In Treasury

Refers to stocks or bonds that a company keeps in its own treasury after they have been repurchased or are not yet issued.

Noncumulative

A characteristic of certain preferences or instruments that do not allow for the accumulation of unpaid dividends or benefits if they are not paid in a given period.

Nonparticipating

In the context of insurance or preferred stock, it refers to policies or shares that do not share in the profits beyond a specified amount.