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Dec.Dec. 1 WaverlyWaverly contributed $ 50 comma 000$50,000 cash to the business in exchange for shares of common stock. 1 Purchased $ 9 comma 000$9,000
Dec.Dec. | 1 | WaverlyWaverly contributed$ 50 comma 000$50,000 cash to the business in exchange for shares of common stock. | |
1 | Purchased $ 9 comma 000$9,000 of equipment paying cash. | ||
1 | Paid $ 1 comma 800$1,800 for aninenine -month insurance policy starting onDecemberDecember 1. | ||
9 | Paid $ 30 comma 000$30,000 cash to purchase land to be used in operations. | ||
10 | Purchased office supplies on account, $ 2 comma 500$2,500. | ||
19 | Borrowed $ 10 comma 000$10,000 from the bank for business use.WaverlyWaverly signed a note payable to the bank in the name of the corporation. The note is due in five years. | ||
22 | Paid $ 1 comma 900$1,900 for advertising expenses. | ||
26 | Paid $ 800$800 on account. | ||
28 | The business received a bill for utilities to be paid in JanuaryJanuary , $ 180$180. | ||
3131 | Revenues earned during the month included $ 18 comma 000$18,000 cash and$ 3 comma 900$3,900 on account. | ||
3131 | Paid employees' salaries $ 3 comma 700$3,700 and building rent$ 800$800. Record as a compound entry. | ||
3131 | The business received $ 1 comma 050$1,050 for auto screening services to be performed next month. | ||
3131 | Paid cash dividends of $ 4 comma 000$4,000 to stockholders. |
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