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Dec 1: Issued common stock for $7,000 cash. Dec 1: Paid $720 in advance for a one-year insurance policy. Dec 1: Purchased equipment for $4,800
Dec 1: Issued common stock for $7,000 cash. Dec 1: Paid $720 in advance for a one-year insurance policy. Dec 1: Purchased equipment for $4,800 cash. Dec 5: Purchased supplies for $500 on account from XYZ Company. Dec 15: Provided services to customers for $5,800 cash. Dec 16: Provided services to customer ABC Inc. on account for $3,100. Dec 17: Received cash of $1,000 in advance from customers for services to be provided in January. Dec 22: Paid $240 to XYZ company for the Dec 5 purchase on account. Dec 23: Received $1,700 cash from customer ABC Inc., on account related to the Dec 16 transaction. Dec 25: Paid $600 rent for the current month. Dec 28: Paid salaries to employees $4,760 for work performed from Dec 1 to Dec 28. Dec 29: Declared and paid cash dividends of $300 to stockholders. Dec 30: Purchased land by signing a long-term note for $6,000. Compute the unadjusted balance for each T-account after all of the December entries have been posted
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