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Elegant Events Planners commenced operations on January 1, 20X1. Record the following transactions in the general journal. Transactions: Issued 30,000 shares of common stock at
"Elegant Events Planners" commenced operations on January 1, 20X1. Record the following transactions in the general journal.
Transactions:
- Issued 30,000 shares of common stock at $205 per share, receiving cash.
- Purchased event supplies worth $195,000 on credit from "Event Suppliers Co."
- Sold event planning services for $380,000 in cash.
- Paid $260,000 to "Event Suppliers Co." for the supplies purchased.
- Acquired office furniture and decorations worth $325,000 in cash.
- Disbursed wages totaling $175,000.
- Sold services worth $340,000 on credit to "Event Retailers."
- Received $320,000 from "Event Retailers" for the services provided on credit.
- Remitted rent totaling $145,000.
- Received a utility bill amounting to $72,000.
Requirement:
Journalize all these transactions into a general journal entry.
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