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Following are the transactions of Sustain Company. June 1 T. James, owner, invested $18,000 cash in Sustain Company. June 2 The company purchased $11,000 of
Following are the transactions of Sustain Company.
June 1 | T. James, owner, invested $18,000 cash in Sustain Company. |
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June 2 | The company purchased $11,000 of furniture made from reclaimed wood on credit. |
June 3 | The company paid $2,000 cash for a 12-month prepaid insurance policy on the reclaimed furniture. |
June 4 | The company billed a customer $10,000 for sustainability services provided. |
June 12 | The company paid $11,000 cash toward the payable from the June 2 furniture purchase. |
June 20 | The company collected $10,000 cash for services billed on June 4. |
June 21 | T. James invested an additional $17,000 cash in Sustain Company. |
June 30 | The company received $12,000 cash in advance of providing sustainability services to a customer. |
Prepare general journal entries for the above transactions.
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