Journal

Accounting Principles I Chapter 2  JOURNAL Name:_  Complete the following activity and save this file on your hard drive. Then submit your file to your instructor on Canvas.

 Journalize each of the following transactions transactions for the Glub Company in the month of January using the General Journal below.  Jan. 1 The owner, Barry Glub, invested $7,000 cash into the business.  Jan. 4 The company bought equipment equipment costing $5,000 by paying $1,500 cash and signing a Note Payable for the remainder.  Jan. 9 The company bought office supplies supplies for $600 and charged them on 30-day open account.  Jan. 12 The company bought a 2-year insurance policy policy for $1,200 and paid cash for it.  Jan. 15 Received a customer customer deposit in the amount amount of $1,500 cash for services to be performed in the future.  Jan. 18 Paid rent on office space, $400. $400.  Jan. 23 Collected $3,400 $3,400 from a customer for services performed performed today.  Jan. 23 Received electric electric bill for January electricity for $200. $200. Even though the electricity has been used, this bill will NOT be paid until next month.  Jan. 30 Counted the unused portion of office supplies purchased on Jan. 9 and discovered that $200 worth had not been used yet.

General Journal Date  Jan. 1

 Jan. 4

 Jan. 9

 Jan. 12

 Jan. 15

 Jan. 18

 Jan. 23

Account title Cash Owner’s capital

Debit 7,000

Equipment Cash Note payable

5,000

Supplies Accounts Payable

600

Prepaid Insurance Cash

1,200

Cash Unearned service revenue

1,500

Rent expense Cash

400

Cash Service revenue

3,400

 Jan. 23

No entry because no transaction transaction has occurred.

 Jan. 30

No entry because no transaction transaction has occurred.

Credit

7,000

1,500 3,500

600

1,200

1,500

400

3,400