On December 1,2016, AJNB Company commences its operation. The following transactions occured for the month of December 2016.

Question

a.) Dec.1 The owner invests 1,000,000 to start the operation of the business
b.) Dec.1 Paid rent in advance for 180,000
c.) Dec.1 Paid an advertising contract in advance for 18,000
d.) Dec.1 Purchased equipment costing 500,000 paying 20% down payment with the balance paid by the issuance of promissory note
e.) Dec. 8 Rendered service to customers for 75,000 paid in full
f.) Dec. 9 Rendered service to customers on account for 150,000
g.) Dec.12 Received payment from customers for services rendered last Dec.9
h.) Dec.15 Received 200,000 for services to be rendered on Dec.25
i.) Dec.18 Paid half of the note previously issued lat Dec.1
j.) Dec.25 Rendered service previously paid last Dec.15
k.) Dec.31 Paid salaries for the month 25,000
l.) Dec.31 Received water, electricity, and telephone bill amounting to 27,000

How to make the journal enties?

Answer 1

Debit
Credit
Dec.1 Cash 1000.000
Capital 1000000
Dec1. Renting expense 180.000
Cash 180000
Dec.1 Advertising expense 180000
cash 180000
Dec1. Equipment 500000
cash 100000
account payable 400000
Dec.8 account receivable 75000
revenue 75000
Dec9 account receivable 150000
revenue 150000
Dec12 cash 150000
account receivable 150000
Dec 15 account receivable 200000
revenue 200000
Dec18 account payable 200000
cash 200000
dec25 cash 200000
A/R 200000
.....
Journal entry is a kind of record all the transaction of a company like i did. and it includes debit and credit account when doing that.