a. Borrowed

$72,000

from the bank, with C.

Zertoc

signing a note payable in the name of the business.

Journal Entry
Date		Debit	Credit
a.	Cash	72,000
	Note Payable		72,000
	Borrowed cash on note payable.

Part 2

b. Paid cash of

$61,000

to a real estate company to acquire land.

Journal Entry
Date		Debit	Credit
b.	Land	61,000
	Cash		61,000
	Purchased land for cash.

Part 3

c. Performed service for a customer and received cash of

$5,500.

Journal Entry
Date		Debit	Credit
c.	Cash	5,500
	Service Revenue		5,500
	Performed service and received cash.

Part 4

d. Purchased supplies on credit,

$290.

Journal Entry
Date		Debit	Credit
d.	Supplies	290
	Accounts Payable		290
	Purchased supplies on account.

Part 5

e. Performed customer service and earned revenue on account,

$4,200.

Journal Entry
Date		Debit	Credit
e.	Accounts Receivable	4,200
	Service Revenue		4,200
	Performed service on account.

Part 6

f. Paid

$1,300

on account.

Journal Entry
Date		Debit	Credit
f.	Accounts Payable	1,300
	Cash		1,300
	Paid on account.

Part 7

g. Paid the following cash expenses: salaries,

$3,200;

rent,

$1,800;

and interest,

$450.

(Prepare a single compound journal entry.)

Journal Entry
Date		Debit	Credit
g.	Salary Expense	3,200
	Rent Expense	1,800
	Interest Expense	450
	Cash		5,450
	Paid cash expenses.

Part 8

h. Received

$3,500

on account.

Journal Entry
Date		Debit	Credit
h.	Cash	3,500
	Accounts Receivable		3,500
	Received on account.

Part 9

i. Received a

$190

utility bill that will be paid next month.

Journal Entry
Date		Debit	Credit
i.	Utilities Expense	190
	Accounts Payable		190
	Received utility bill to be paid later.

Part 10

j. Declared and paid a dividend of

$280.

Journal Entry
Date		Debit	Credit
j.	Dividends	280
	Cash		280