1) Blue Mountain Corporation issues 65,000 shares at $150 market value (par value =$100 ). Hint: The amount that goes into the common stock account will be based on the par value * the shares issued. 2) Blue Mountain Corporation issues $550,000 worth of Bonds Payable (face rate = market rate). 3) The business buys $500,000 worth of inventory on account. 4) The business buys $65,000 worth of inventory on account. 5) The business buys $8,000 worth of inventory with cash. 6) The business buys some equipment with cash at $150,000. 7) The business paid $9,000 in salaries (with cash)... 8) The business paid $3,000 in utilities (with cash)... 9) The business received cash before completing any obligation to the customer ($140,000). 10) A business sells its inventory on account for $450,000 (cost \$125,000). Hit: You should use two journal entries... 11) A business sells its inventory on account for $35,000 (cost $9,000 ). Hit: You should use two journal entries... 12) A business sells its inventory for $30,000 cash (cost \$8,000). Hit: You should use two journal entries... 13) The business completes $30,000 of the obligation (see January 9th)... 14) A customer pays $3,000 on its accounts receivable... 15) A customer pays $12,000 on its accounts receivable... 16) The business pays $5,000 on one of its accounts (use accounts payable). 17) The business pays $4,000 on one of its accounts (use accounts payable). General Journal Date