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09 O'Brien Construction had the following business activities: 1. Stockholders invest $30,000 cash in the corporation. 2. O'Brien purchased $500 of office supplies on
09 O'Brien Construction had the following business activities: 1. Stockholders invest $30,000 cash in the corporation. 2. O'Brien purchased $500 of office supplies on credit. 3. O'Brien purchased office equipment for $8,000, paying $1,500 in cash and signing a 30-day notes payable for the remainder 4. O'Brien paid $250 cash on account for office supplies purchased in transaction 2 5. O'Brien purchased two acres of land for $6,000, signing a 2-year notes payable 6. O'Brien sold one acre of land at one-half of the total cost of the two acres, receiving the full amount or $3,000 in cash 7. O'Brien made a payment of $3,000 on its 2-year note. Required: Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet B CD E F G Record the entry for investment of $30,000 cash in the corporation by stockholders. Note: Enter debits before credits. Transaction General Journal Debit Credit
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