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Bright Horizons Daycare Ltd. began operations on January 1, 20X1. Record the following transactions in the general journal. Transactions: Issued 37,000 shares of common stock
"Bright Horizons Daycare Ltd." began operations on January 1, 20X1. Record the following transactions in the general journal.
Transactions:
- Issued 37,000 shares of common stock at $240 per share, receiving cash.
- Purchased daycare supplies and equipment worth $230,000 on credit from "Daycare Supplies Co."
- Sold daycare services for $450,000 in cash.
- Paid $330,000 to "Daycare Supplies Co." for the supplies purchased.
- Acquired playground equipment worth $395,000 in cash.
- Disbursed wages totaling $210,000.
- Provided services worth $410,000 on credit to "Childcare Retailers."
- Received $390,000 from "Childcare Retailers" for the services provided on credit.
- Remitted rent totaling $180,000.
- Received a utility bill amounting to $90,000.
Requirement:
Journalize all these transactions into a general journal entry.
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