Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2. Alegra Corp. started business on February 2019. Transaction during its first month of operations are as follow: Feb. 2 Jos and Ana Prez invest
2. Alegra Corp. started business on February 2019. Transaction during its first month of operations are as follow: Feb. 2 Jos and Ana Prez invest $5,000 cash on their new business in exchange for common stock. Feb 8 Office furniture and equipment is purchased for $1,500 cash. Feb 9 Received $600 cash for services provided to customers. Feb. 12 Purchased $900 supplies on account. Feb. 15 Provided additional services for $800 on account. Feb. 16 Paid salaries to employees $250. Feb. 20 Received $500 cash for additional services provided to customers. Feb. 22 Collected partial amount of $400 from previous transaction (see Feb. 15). Feb. 25 Paid communication and internet utilities $100 Feb. 26 Made partial payment $450 on the Feb. 12 account. Feb. 27 Received $300 cash for additional services provided to customers. Feb. 28 Paid salaries to employees $250
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started