Question

Question 2:

1- Arab Delivery Service, Inc. completed the following transactions during January, 2019:
Shareholders invested in the business $30,000 cash and a delivery truck valued at $36,000 in
exchange for common stock.
Purchased supplies for $1,500 cash.
Paid $2,750 for a one-year insurance policy, effective January1.
Performed delivery services for a customer and received $2,000 cash.
Completed a large delivery job for a customer on account for $7,500.
Paid $5,000 for employee salaries.
Perfomed delivery services for customers and received $55,000 cash.
Collected $2,500 in advance for delivery service to be performed later.
Collected $3.500 cash from a customer on account.
Purchased fuel for the truck, paying $1.800 with a company credit card (Credit accounts
payable).
Perfomed delivery services on account, $4.750.
Paid office rent $1,200.
Paid $1,000 for accounts payable.
Paid cash dividends of $9.000.
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m.
1
Requirements:
Record each transaction in the journal. Key each transaction by its letter (Explanations are not
required). ​

Answer 1

Answer:

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