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Brief Exercise 2-32 (Algorithmic) Journalize Transactions Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $57,000 from First Street Bank by
Brief Exercise 2-32 (Algorithmic) Journalize Transactions Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $57,000 from First Street Bank by signing a note payable. b. January 4: Purchased $25,000 of equipment for cash. C. January 6: Paid $500 to landlord for rent for January. d. January 15: Performed services for customers on account, $41,800. e. January 25: Collected $3,000 from customers for services performed in Transaction d. f. January 30: Paid salaries of $7,500 for the current month. Required: Prepare journal entries for the transactions. Jan. 1 (Record issuance of note payable) (Record purchase of equipment) 6 (Record payment of rent) 15 (Record performance of services) 25 (Record collection from customer) 30 (Record payment of salaries)
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