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GreenTech Innovations Ltd. began operations on January 1, 20X1. Record the following transactions in the general journal. Transactions: Issued 22,000 shares of common stock at
"GreenTech Innovations Ltd." began operations on January 1, 20X1. Record the following transactions in the general journal.
Transactions:
- Issued 22,000 shares of common stock at $165 per share, receiving cash.
- Purchased eco-friendly components worth $155,000 on credit from "Green Suppliers."
- Sold green technology products for $300,000 in cash.
- Paid $180,000 to "Green Suppliers" for the components purchased.
- Acquired testing equipment worth $255,000 in cash.
- Paid wages totaling $135,000.
- Sold goods worth $270,000 on credit to "Eco Retailers."
- Received $250,000 from "Eco Retailers" for the sale made on credit.
- Paid rent amounting to $110,000.
- Received a utility bill for $55,000.
Requirement:
Journalize all these transactions into a general journal entry.
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