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Exercise 4-10 (Part Level Submission) Pearl Lawn Service entered into the following transactions during 2017, its first year of operations: 1. Collected $13,000 in cash
Exercise 4-10 (Part Level Submission) Pearl Lawn Service entered into the following transactions during 2017, its first year of operations: 1. Collected $13,000 in cash from shareholders 2. Borrowed $4,500 from a bank. 3. Purchased two parcels of land for a total of $9,800. 4. Paid $4,900 to rent lawn equipment for the remainder of the year. 5. Provided lawn services, receiving $10,600 in cash and $4,000 in receivables. 6. Paid miscellaneous expenses of $4,400. 7. Sold one parcel of land with a cost of $2,700 for $2,520. 8. Paid a $2,200 dividend to the shareholders Journalize each transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is reguired, select "No entry" f No. Account Titles and Explanation Debit Credit (Collected cash from shareholders.) (Borrowed cash from bank.) (Purchased land.) (Incurred and paid rent expense.) (Rendered services.) (Incurred and paid miscellaneous expenses.) Sold land.) (Declared and paid cash dividend.)
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