Journalizing transactions (Learning Objective 3) 15–20 min.

Tina Dalton practices law under the business title Tina Dalton, Attorney at Law, Inc.

During September, her law practice engaged in the following transactions:

Dalton’s business uses the following accounts: Cash, Accounts Receivable, Supplies, Land, Office Equipment, Accounts Payable, Notes Payable, Common Stock, Dividends, Service Revenue, Salaries Expense, Rent Expense, and Utilities Expense.
Requirement 1. Journalize each transaction. Omit explanations.AppendixLO1

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Sep 1 Sold $60,000 of common stock to Dalton to start the business. 3 8 12 Paid $450 for the purchase of office supplies. Paid $43,000 cash to purchase land for an office site. Purchased office equipment on account, $4,300. Borrowed $65,000 from the bank. Dalton signed a note payable to the bank in the name of the business. 26 Paid $2,800 on account. 30 Revenues earned during the month included $12,000 cash and $16,500 on account. 30 Paid employees' salaries, $3,240; office rent, $1,800; and utilities, $675. 30 Paid $4,300 of dividends to stockholder, Dalton.