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E2-13 (Algo) Recording Journal Entries LO2-4 Jameson Corporation was organized on May 1. The following events occurred during the first month. Received $67,000 cash and

E2-13 (Algo) Recording Journal Entries LO2-4

Jameson Corporation was organized on May 1. The following events occurred during the first month.

  1. Received $67,000 cash and a building valued at $250,000 from the five investors who organized Jameson Corporation. Each investor received 103 \ shares of $10 par value common stock. image text in transcribed
  2. Ordered store fixtures costing $10,000. image text in transcribed
  3. Borrowed $17,000 cash and signed a note due in two years. image text in transcribed
  4. Purchased $22,000 of equipment, paying $1,500 in cash and signing a six-month note for the balance. image text in transcribed
  5. Lent $1,700 to an employee who signed a note to repay the loan in three months. image text in transcribed
  6. Received and paid for the store fixtures ordered in (b). image text in transcribed
Journal entry worksheet Record the $22,000 purchase of equipment paid for with $1,500 in cash and a six-month note for the balance. Note: Enter debits before credits. Journal entry worksheet Record $1,700 loan to an employee who signed a note due in three months. Note: Enter debits before credits. Journal entry worksheet Record the receipt of the $17,000 cash borrowed on a two-year note. Note: Enter debits before credits. Journal entry worksheet Record the receipt of the store fixture and $10,000 payment. Note: Enter debits before credits. Journal entry worksheet Record the $10,000 order of store fixtures. Note: Enter debits before credits. Journal entry worksheet Record the receipt of $67,000 cash and a building valued at $250,000 from five investors who each received 103 shares of $10 par value common stock. Note: Enter debits before credits

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