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Create all the journal entries with proper documentation including dates and reasons. 30 points a 1-Jan Company buys building for $300,000 with down payment of
Create all the journal entries with proper documentation including dates and reasons. 30 points a 1-Jan Company buys building for $300,000 with down payment of 20% and a loan for the rest b 5-Jan Company pays employees for the month $12,000 c 10-Jan The company performs services for a customer worth $4,300 and the customer pays $2,000 in cash Company paid commission to sales agent of 5% for an equipment sale that was d 12-Jan previously booked for $10,000 e 15-Jan Company pays for this month's and next month's rent $24,000 f 18-Jan Company pays for insurance coverage starting next month of $650 g 21-Jan An employee earns wages per week of $1,200. Four employees who have worked one week but not been paid 24-Jan Company pays $3,600 for advertising that was billed and published last month in trade ournal h 27-Jan Company takes out a loan of $100,000 30-Jan Company signs agreement for a line of credit (loan) of $500,000 30-Jan Company purchases employee memberships to health club for next year for $12,000 cash k T-Accounts and Trial Balance Beginning balances are all normal balances 3,500 2,500 5,000 10,000 9,200 1,000 5,000 800 Accounts Payable Accounts Receivable Cash Common Stock Equipment Inventory Notes payable Prepaid Insurance Using the attached t-accounts, post the following entries and create a trial balance. 1. The company pays $1000 to a vendor on an invoice that is due. 2. The company sells services to a customer worth $6,600 which the customer may pay in 30 days 3. Insurance costs $200 for the time period. 4. The company pays wages of $3500. 5. The company takes shipment of $2000 inventory and must pay the invoice in 30 days 6. A customer pays $1000 on its account
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