Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help ASAP! Please create journal entries for the following transactions above. Following are the transactions of Sustain Company. June 1T. James, owner, invested $19,000 cash
help ASAP! Please create journal entries for the following transactions above.
Following are the transactions of Sustain Company. June 1T. James, owner, invested $19,000 cash in Sustain Company in exchange for common stock. June 2 The coepany purchased $12,006 of furniture made from reclaimed wood on credit. June 3 The company paid $2,200 cash for a 12-eonth prepaid insurance policy on the reclaimed furniture. June 4 The company billed a customer $11,000 for sustainability services provided. June 12 The company paid $12, 0 cash toward the payable from the June 2 furniture purchase. June 20 The company collected $11,000 cash for services billed on June 4 . June 21T. James invested an additional $18,060 cash in Sustain Company in exchange for common stock. June 38 The company received $13,000 cash in advance of providing sustainability services to a customer. Prepare general journal entries for the above transactions. Journal entry worksheet 2345678 T. James, owner, invested $19,000 cash in Sustain Company in exchange for common stock. Note: Enter dobits before credits Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started