Chapter 2: Journal Entries

Journalize the following transactions in the general journal:

Sept. 1 Sold common stock for cash $65,000.

1 Paid rent for the month, $1,100.

3 Borrowed $10,000 from a bank and signed a note payable agreeing to repay the $10,000 in one year

plus 10% interest.

3 Purchased $5,500 of cleaning equipment; paid $3,500 down with the remainder due within 30 days.

4 Purchased cleaning supplies for $4,300 cash.

10 Received $2,500 from cash customers.

21 Billed customers for services, $3,500.

23 Paid $1,500 on account to cleaning equipment firm (see Sept. 3 transaction).

28 Collected $2,300 from customers on account.

29 Received electricity bill for the month, $85 and will pay it in October.

30 Paid wages for September, $1,750.

30 Paid service station for gasoline used during September, $255.

30 Paid dividends, $800.

Date	Description	Post Ref	Debit	Credit