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how to construct a journal entry for this? with date/description/debit/credit? Following are the selected transactions for April: (a) Received $18,000 from sale of common stock.
how to construct a journal entry for this? with date/description/debit/credit?
Following are the selected transactions for April: (a) Received $18,000 from sale of common stock. (b) Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder. (c) Paid $2,300 for rent for April (d) Purchased $1,500 of supplies on account. (e) Recorded $9,800 of fees earned on account. (1) Received $7,500 in cash for fees earned. (g) Paid $1,200 to creditors on account (h) Paid wages of $3,425. (1) Received $7,900 from customers on account. 0) Recorded dividends of $1,875. Required: Record the above selected transactions for April. Refer to the Chart of Accounts for exact wording of account titles. 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies EXPENSES 14 Prepaid Insurance 51 Wages Expense 15 Land 53 Rent Expense 16 Equipment 54 Utilities Expense 17 Building 55 Maintenance Expense 18 Truck 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Unearned Revenue 23 Notes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 DividendsStep by Step Solution
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