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14. Baxter Construction organized as a corporation on January 18 and engaged in the following transactions during its first two weeks of operation. Jan
14. Baxter Construction organized as a corporation on January 18 and engaged in the following transactions during its first two weeks of operation. Jan 18- Issued Capital Stock in exchange for $500,000 cash Jan 22- Borrowed $200,000 form Nation First Bank by issuing a note payable Jan 23- Paid $300 for a radio advertisement on January 24 Jan 25- Provided $6,000 of services to clients for cash Jan 26- Provided $20,500 of services to clients on account Jan 31- Collected $5,200 cash from clients for the services provided on January 26 a. Record each of these transactions. b. Determine the balance in the Cash account on January 31. Be certain to state whether The balance is debit or credit. 15. For each transaction in question 14, post to the appropriate account.
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