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Chapter 3 Connect HW 1 2.5 points Po Help Save & Exit Sut Sed Check my wa E3-17 (Static) Preparing Journal Entries [LO 3-3]
Chapter 3 Connect HW 1 2.5 points Po Help Save & Exit Sut Sed Check my wa E3-17 (Static) Preparing Journal Entries [LO 3-3] In January, Tongo, Incorporated, a branding consultant, had the following transactions. a Received $9,500 cash for consulting services rendered in January. b. Issued common stock to investors for $10,000 cash. c. Purchased $12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years d. Received $7,500 cash for consulting services to be performed in February e Bought and received $1,000 of supplies on account Received utility bill for January for $1,250, due February 15. g. Consulted for customers in January for fees totaling $15,900, due in February h. Received $12,000 cash for consulting services rendered in December. Paid $500 toward supplies purchased in (e). Required: Prepare the journal entry for each of the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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