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If $202404\_$ACC$\_101\_01$V: Chapter $2-$ Exer.

Chapter $2-$ Exercises $($i$)$

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June $1$ T$.$ James, owner, invested $$11,000$ cash in Sustain Company in exchange for common stock.

June $2$ The company purchased $$4,000$ of furniture made from reclaimed wood on credit.

June $3$ The company paid $$600$ cash for a $12-$month prepaid insurance policy on the reclaimed furniture.

June $4$ The company billed a customer $$3,000$ for sustainability services provided.

June $12$ The company paid $$4,000$ cash toward the payable from the June $2$ furniture purchase.

June $20$ The company collected $$3,000$ cash for services billed on June $4.$

June $21$ T$.$ James invested an additional $$10,000$ cash in Sustain Company in exchange for common stock.

June $30$ The company received $$5,000$ cash in advance of providing sustainability services to a customer.

Prepare general journal entries for the above transactions.

References

Journal entry worksheet

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The company purchased $$4,000$ of furniture made from reclaimed wood on credit.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$June $02,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

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