Bearcat Construction begins operations in March and has the following transactions March1 Receive cash from customers for services provided, $21,300 March5 Issue common stock for cash, $11,000 March 10 Receive cash from customers who were previously billed $14,600 March 15 Pay salaries for the curr...

March 1 Debit Credit Cash 21300 Service Revenue 2130 ...

Bearcat Construction begins operations in March and has the following transactions. March1 Receive cash from customers for

Question:

Bearcat Construction begins operations in March and has the following transactions.
March 1 Receive cash from customers for services provided, $21,300.
March 5 Issue for cash, $11,000.
March 10 Receive cash from customers who were previously billed $14,600.
March 15 Pay salaries for the current month of $3,800.
March 22 Pay rent for one year in advance, $15,700.
March 27 Pay dividends to stockholders, $9,000.
March 28 Purchase office supplies with cash, $3,800.

Required:
Record each transaction. Bearcat uses the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Rent, Common Stock, Service Revenue, and Salaries Expense.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...