Transaction Journal Entries
Here are 20 different transactions journalized:
1. Jan 1: Invested $10,000 cash in the business.
- Debit Cash $10,000
- Credit Owner’s Equity $10,000
2. Jan 3: Purchased inventory on credit for $5,000.
- Debit Inventory $5,000
- Credit Accounts Payable $5,000
3. Jan 5: Sold goods for $8,000 cash.
- Debit Cash $8,000
- Credit Sales Revenue $8,000
4. Jan 7: Paid rent of $1,000.
- Debit Rent Expense $1,000
- Credit Cash $1,000
5. Jan 10: Purchased equipment for $3,000 cash.
- Debit Equipment $3,000
- Credit Cash $3,000
6. Jan 12: Paid $2,000 towards accounts payable.
- Debit Accounts Payable $2,000
- Credit Cash $2,000
7. Jan 15: Received $4,000 cash from customers for services.
- Debit Cash $4,000
- Credit Service Revenue $4,000
8. Jan 18: Paid salaries $2,500.
- Debit Salary Expense $2,500
- Credit Cash $2,500
9. Jan 20: Purchased office supplies for $500 cash.
- Debit Office Supplies $500
- Credit Cash $500
10. Jan 22: Paid utility bill of $300.
- Debit Utilities Expense $300
- Credit Cash $300
11. Jan 25: Received $1,500 cash from a loan.
- Debit Cash $1,500
- Credit Notes Payable $1,500
12. Jan 28: Sold inventory costing $3,000 for $5,000 cash.
- Debit Cash $5,000
- Credit Sales Revenue $5,000
- Debit Cost of Goods Sold $3,000
- Credit Inventory $3,000
13. Feb 1: Paid insurance premium of $600.
- Debit Insurance Expense $600
- Credit Cash $600
14. Feb 3: Received $700 cash for consulting services.
- Debit Cash $700
- Credit Consulting Revenue $700
15. Feb 5: Purchased a vehicle for $15,000.
- Debit Vehicle $15,000
- Credit Cash $15,000
16. Feb 7: Paid $2,000 on loan principal.
- Debit Notes Payable $2,000
- Credit Cash $2,000
17. Feb 10: Earned $1,200 interest income.
- Debit Cash $1,200
- Credit Interest Income $1,200
18. Feb 12: Paid dividends of $1,000.
- Debit Dividends $1,000
- Credit Cash $1,000
19. Feb 15: Purchased a software for $1,200 cash.
- Debit Software $1,