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Prepare Journal Entries to Record the Following Transactions for Ted's

Question 29

Essay

Prepare journal entries to record the following transactions for Ted's Garage:
a.Ted does extensive body work on Jim's auto,and sends Jim a bill for $1,700.
b.Ted receives Jim's check for $1,700.
c.Ted's mechanic earns $2,000 for a week's work.Ted pays him $1,800 after deducting $200 withholding taxes.
d.Ted prepares financial statements at the end of the month.He makes an accrual for $400 for unpaid salaries.

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