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.
2. Ordered store fixtures costing $10,000.
3. Borrowed $17,000 cash and signed a note due in two years.
4. Purchased $22,000 of equipment, paying $1,500 in cash and signing a six-month note for the balance.
5. Lent $1,700 to an employee who signed a note to repay the loan in three months.
6. Received and paid for the store fixtures ordered in (b).

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 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. 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 store fixture and $10,000 payment. 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 $10,000 order of store fixtures. Note: Enter debits before credits