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As the management accountant for Microsoft Corporation, you are required to analyze the following transactions for the month of June 2024: Received $6,000,000 in cash
As the management accountant for Microsoft Corporation, you are required to analyze the following transactions for the month of June 2024:
- Received $6,000,000 in cash from customers for services rendered.
- Paid $1,200,000 in cash for office rent.
- Purchased equipment worth $3,000,000 on credit.
- Paid $600,000 in cash for utilities.
- Issued common stock for $4,200,000 in cash.
Record these transactions in the general journal and prepare the trial balance as of June 30, 2024.
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