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Harvest Fresh Foods Ltd. started operations on January 1, 20X1. Journalize the following transactions in the general journal. Transactions: Issued 31,000 shares of common stock
"Harvest Fresh Foods Ltd." started operations on January 1, 20X1. Journalize the following transactions in the general journal.
Transactions:
- Issued 31,000 shares of common stock at $210 per share, receiving cash.
- Purchased food and supplies worth $200,000 on credit from "Food Suppliers Co."
- Sold food products for $390,000 in cash.
- Paid $270,000 to "Food Suppliers Co." for the supplies purchased.
- Acquired refrigeration equipment and display cases worth $335,000 in cash.
- Disbursed wages totaling $180,000.
- Sold goods worth $350,000 on credit to "Grocery Retailers."
- Received $330,000 from "Grocery Retailers" for the sale made on credit.
- Remitted rent totaling $150,000.
- Received a utility bill amounting to $75,000.
Requirement:
Journalize all these transactions into a general journal entry.
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