How to journalize the following transactions 1 1 2 0 2 4 MKE Corp issues 1 0 , 0 0 0 shares of $ 1 par value stock to investors for $ 1 0 0 , 0 0 0 1 1 2 0 2 4 MKE Corp purchases equipment for $ 8 , 0 0 0 , with terms n 3 0 This equipment has a 4 year useful life and no salvage value MKE uses double declining method 1 1 2 0 2 4 MKE Corp borrows $ 5 0 , 0 0 0 from City Bank at 8 interest The loan is to be repaid on 1 1 2 0 2 5 2 1 2 0 2 4 MKE Corp receives a payment of $ 2 , 0 0 0 from a customer for services that MKE is to render at a later date 2 1 2 0 2 4 MKE Corp purchases a 1 year insurance policy for $ 5 , 0 0 0 in cash 3 1 2 0 2 4 MKE Corp declares a cash dividend to its shareholders in the amount of $ 1 0 , 0 0 0 , to be paid on 4 1 2 0 2 4 3 1 2 0 2 4 MKE Corp paid $ 1 , 5 0 0 to a marketing firm for social media advertising 4 1 2 0 2 4 MKE Corp performs the services for the customer in transaction 4 4 1 2 0 2 4 MKE Corp pays the dividend declared on 3 1 4 1 2 0 2 4 MKE Corp purchases inventory on account from Supplier, Co The inventory costs $ 8 , 0 0 0 and the terms are 2 1 0 n 3 0 MKE pays an additional $ 5 0 0 freight, in cash, to a shipping company 4 5 2 0 2 4 Upon inspecting the inventory purchased on 4 1 , MKE discovers that some items are broken They alert Supplier, Co who refunds them $ 7 5 0 The damaged merchandise is discarded 4 7 2 0 2 4 MKE pays the full amount due to Supplier, Co 4 1 5 2 0 2 4 MKE Corp makes a cash sale of merchandise to a customer for $ 1 0 0 0 The profit margin for this sale was 2 0 4 2 0 2 0 2 4 MKE Corp bought back 4 0 0 shares of common stock for $ 1 2 each 5 1 2 0 2 4 MKE Corp sells a piece of equipment that original cost $ 5 , 0 0 0 but has a current NBV of $ 1 , 5 0 0 for $ 2 , 7 0 0 Depreciation expense for the year has already been recorded 5 1 5 2 0 2 4 MKE Corp performed services on account for $ 6 , 4 0 0 6 1 5 2 0 2 4 MKE Corp does a 2 for 1 stock split 6 3 0 2 0 2 4 Record the adjusting entry for interest from the note payable originally from 1 1 2 0 2 4 6 3 0 2 0 2 4 Close out your revenue and expense accounts ( You do not have to close out income summary, dividends, or or any gains or losses )

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How to journalize the following transactions 1   1   2 0 2 4 MKE Corp issues 1 0 , 0 0 0 shares of $ 1 par value stock to investors for $ 1 0 0 , 0 0 0   1   1   2 0 2 4 MKE Corp purchases equipment for $ 8 , 0 0 0 , with terms n   3 0   This equipment has a 4   year useful life and no salvage value  MKE uses double declining method  1   1   2 0 2 4 MKE Corp borrows $ 5 0 , 0 0 0 from City Bank at 8   interest  The loan is to be repaid on 1   1   2 0 2 5   2   1   2 0 2 4 MKE Corp receives a payment of $ 2 , 0 0 0 from a customer for services that MKE is to render at a later date  2   1   2 0 2 4 MKE Corp purchases a 1   year insurance policy for $ 5 , 0 0 0 in cash  3   1   2 0 2 4 MKE Corp declares a cash dividend to its shareholders in the amount of $ 1 0 , 0 0 0 , to be paid on 4   1   2 0 2 4   3   1   2 0 2 4 MKE Corp paid $ 1 , 5 0 0 to a marketing firm for social media advertising  4   1   2 0 2 4 MKE Corp performs the services for the customer in transaction   4   4   1   2 0 2 4 MKE Corp pays the dividend declared on 3   1   4   1   2 0 2 4 MKE Corp purchases inventory on account from Supplier, Co   The inventory costs $ 8 , 0 0 0 and the terms are 2   1 0 n   3 0   MKE pays an additional $ 5 0 0 freight, in cash, to a shipping company  4   5   2 0 2 4 Upon inspecting the inventory purchased on 4   1 , MKE discovers that some items are broken  They alert Supplier, Co   who refunds them $ 7 5 0   The damaged merchandise is discarded  4   7   2 0 2 4 MKE pays the full amount due to Supplier, Co   4   1 5   2 0 2 4 MKE Corp makes a cash sale of merchandise to a customer for $ 1 0 0 0   The profit margin for this sale was 2 0     4   2 0   2 0 2 4 MKE Corp bought back 4 0 0 shares of common stock for $ 1 2 each  5   1   2 0 2 4 MKE Corp sells a piece of equipment that original cost $ 5 , 0 0 0 but has a current NBV of $ 1 , 5 0 0 for $ 2 , 7 0 0   Depreciation expense for the year has already been recorded  5   1 5   2 0 2 4 MKE Corp performed services on account for $ 6 , 4 0 0   6   1 5   2 0 2 4 MKE Corp does a 2 for 1 stock split  6   3 0   2 0 2 4 Record the adjusting entry for interest from the note payable originally from 1   1   2 0 2 4   6   3 0   2 0 2 4 Close out your revenue and expense accounts  ( You do not have to close out income summary, dividends, or or any gains or losses )

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How to journalize the following transactions 1 / 1 / 2 0 2 4 MKE Corp issues 1 0 , 0 0 0 shares of

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