TABLE 4.9 Journal of the Portland After School Program
July 1, 20XX–December 31, 20XX
(a) July 1, 20XX— Received unrestricted donation check in the amount of $15,000 from the Multnomah County Department of Health and Human Services.
(b) July 19, 20XX—Paid Great Northwest Insurance Company $9,000 for six more months of fire and liability insurance coverage.
Debited prepaid insurance$9,000
(c) July 15, 20XX—Paid Portland Arts & Crafts Company $3,000 for additional arts and crafts supplies.
Debited Arts & Crafts Supplies$3,000
(d) July 15, 20XX—Transferred temporarily restricted funds in the amount of $3,000 from investments to pay for additional arts and crafts supplies.
(e) July 30, 20XX—Paid Oregon Sporting Goods $5,000 for additional recreational equipment.
(f) December 31, 20XX—Received fees from parents in the amount of $40,000.
(g) December 31, 20XX—To account for $1,750 in fees from parents earned in the first six months of operations, but collected in the second six months
Debited Accounts Receivable$1,750
(h) December 31, 20XX—To account for $3,000 in parent fees earned in the second six months of operations, but not yet collected.
Debited Accounts Receivable$3,000
(i) December 31, 20XX—To account for expenses (John’s Deli) in the amount of $1,500 incurred during the first six months of operations, but paid in the second six months.
Credited Accounts Payable$1,500
(j) December 31, 20XX—Paid Portland Gas & Electric Company $7,500 for utilities.