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Bright Horizons Education started operations on January 1, 20X1. Record the following transactions in the general journal. Transactions: Issued 9,000 shares of common stock at
"Bright Horizons Education" started operations on January 1, 20X1. Record the following transactions in the general journal.
Transactions:
- Issued 9,000 shares of common stock at $100 per share, receiving cash.
- Purchased educational supplies worth $90,000 on credit from "Learning Supplies Co."
- Sold educational services for $170,000 in cash.
- Paid $75,000 to "Learning Supplies Co." for the supplies purchased.
- Acquired computers and projectors worth $125,000 in cash.
- Paid salaries totaling $70,000.
- Provided services worth $140,000 on credit to "Knowledge Retailers."
- Received $120,000 from "Knowledge Retailers" for the services provided on credit.
- Paid rent amounting to $45,000.
- Received a utility bill for $22,000.
Requirement:
Journalize all these transactions into a general journal entry.
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