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Evergreen Enterprises began its operations on January 1, 20X1. Throughout the year, the company engaged in numerous transactions to grow its business. Record the following
"Evergreen Enterprises" began its operations on January 1, 20X1. Throughout the year, the company engaged in numerous transactions to grow its business. Record the following transactions in the general journal.
Transactions:
- Issued 12,000 shares of common stock at $100 per share, receiving cash.
- Purchased inventory worth $90,000 on credit from "Green Suppliers."
- Sold goods for $140,000 in cash.
- Paid $70,000 to "Green Suppliers" for the inventory purchased.
- Acquired machinery worth $150,000 in cash.
- Paid salaries totaling $60,000.
- Sold goods worth $100,000 on credit to "Nature Retailers."
- Received $90,000 from "Nature Retailers" for the sale made on credit.
- Paid rent amounting to $30,000.
- Received a utility bill for $15,000.
- Purchased office supplies for $5,000 in cash.
- Declared and paid dividends amounting to $20,000.
Requirement:
Journalize all these transactions into a general journal.
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