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Complete a general journal with the following transactions Transactions List # 1 Date January 1 January 1 2 3 January 1 4 Juras Equipment, Inc.
Complete a general journal with the following transactions
Transactions List # 1 Date January 1 January 1 2 3 January 1 4 Juras Equipment, Inc. sold 225 shares of stock at $38 per share for cash. Borrows 5000 cash by signing a 4-year. $5000 note at 4%. The principal is due at the end of the maturity period. Interest is to be paid monthly due on the 1st of the following month Purchased office equipment for $2750. Made a down payment of $500 and the remaining balance in a promissory note with 'same as cash' financing terms (no interest). The equipment has a salvage value of $750 and estimated useful life of 4 years. Paid rent for January through June totaling $3000. Purchased office supplies on account for $475. Purchased inventory on account for S11000. Sold inventory on account for $9000 which was purchased for S6000. Purchased a 9. 9-month insurance policy for $1800, Purchased inventory at S6500 cash. Paid $1100 for advertising for January on social media. Sold inventory on account for $12400 which costed $8000. Received payment from customer from January 5 sale. Account was paid off in full. 5 6 7 January 2 January 2 January 3 January 5 January 7 January 10 January 11 January 12 January 13 8 9 10 11 12 13 January 14 14 January 20 15 January 25 January 28 16 Paid employees' wages for the past 2 weeks totaling $2700. (Wages run S270 per day.) Received cash from customer for $4200 of inventory which costed $3000. Merchandise will not be shipped until February 2 per customer's request. Received payment on the sale dated January 12. Paid employees' wages for the past 2 weeks totaling $2700. (There are five work days each week.) January 28 is a Friday. No one works the weekend but employees do work January 31. Paid electricity bill for January that totaled $350. Paid for supplies purchased on January 2. There remains $150 worth of supllies in the cabinet today. Placed an order for $9500 worth of inventory. Inventory is not expected to be received until February 4 with terms of n/30 Paid $100 cash to shareholders for dividends. 17 January 30 January 31 18 19 January 31 20 January 31 Step by Step Solution
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