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Following are the transactions of Sustain Company. June 1T. James, owner, invested $11,000 cash in Sustain Company in exchange for common stock.June 2The company purchased
Following are the transactions of Sustain Company.
June 1T. James, owner, invested $11,000 cash in Sustain Company in exchange for common stock.June 2The company purchased $4,000 of furniture made from reclaimed wood on credit.June 3The company paid $600 cash for a 12-month prepaid insurance policy on the reclaimed furniture.June 4The company billed a customer $3,000 for sustainability services provided.June 12The company paid $4,000 cash toward the payable from the June 2 furniture purchase.June 20The company collected $3,000 cash for services billed on June 4.June 21T. James invested an additional $10,000 cash in Sustain Company in exchange for common stock.June 30The company received $5,000 cash from a client for sustainability services for the next 3 months.Prepare general journal entries for the above transactions.
- T. James, owner, invested $11,000 cash in Sustain Company in exchange for common stock.
- The company purchased $4,000 of furniture made from reclaimed wood on credit.
- Etc
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