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Prepare general journal entries for preceding transactions

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Reference no: EM132797367

Tanya Gupta is a wedding planner who is one of the best known in her area; she has a high presence at wedding shows and works closely with a wedding dress boutique. On January 1, 2020, Tanya started her business called The Wedding Planner.

The following activities occurred during March, the third month of operations:

  1. March 1 Purchased supplies for organizing files on credit for $200.
  2. March 2 Collected $4,400 in advance for a wedding in May.
  3. March 3 Collected the final payment of $2,200 for the Singh family wedding happening this weekend.
  4. March 4 Paid $3,200 to rent the hall for the Singh wedding.
  5. March 5 Paid $600 for supplies purchased on account last month.
  6. March 15 Tanya withdrew cash of $450 to do some personal shopping on the weekend.
  7. March 20 Paid her assistant wages of $1,500.
  8. March 31 Purchased new punch bowl equipment on credit for $400.

Instructions:

Problem 1. Prepare general journal entries for the preceding transactions.

Reference no: EM132797367

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