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Evergreen Horizons started operations on January 1, 20X1. Throughout the year, the company executed several transactions to grow its operations. Record the following transactions in
"Evergreen Horizons" started operations on January 1, 20X1. Throughout the year, the company executed several transactions to grow its operations. Record the following transactions in the general journal.
Transactions:
- Issued 9,000 shares of common stock at $95 per share, receiving cash.
- Purchased inventory worth $90,000 on credit from "Green Suppliers."
- Sold goods for $150,000 in cash.
- Paid $75,000 to "Green Suppliers" for the inventory purchased.
- Acquired machinery worth $140,000 in cash.
- Received a utility bill for $16,000.
- Paid rent amounting to $28,000.
- Sold goods worth $120,000 on credit to "Nature Retailers."
- Received $110,000 from "Nature Retailers" for the sale made on credit.
- Paid salaries totaling $60,000.
Requirement:
Journalize all these transactions into a general journal.
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