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I need help completing these journal entries On October 1, Wolfpack issued shares of common stock to investors in exchange for $45,000 in cash. Date
I need help completing these journal entries
On October 1, Wolfpack issued shares of common stock to investors in exchange for $45,000 in cash. Date Account Name DebitCredit Oct 1 45000 45000 On October 2, Wolfpack purchased equipment for $8,000 cash. DateAccount Name Debit Credit Oct 2 8000 8000 On October 4, Wolfpack borrowed $6,000 from First City Bank by signing a one-year, 10% note. Date Account Name Debit Credit Oct 4 6000 6000 On October 5, Wolfpack purchased supplies costing $400 on account. DateAccount Name Debit Credit Oct 5 400 400 On October 15, Wolfpack paid $400 for the supplies previously purchased on account on October 5th. Date Account Name DebitCredit Oct 15 400 400 On October 18, Wolfpack performed $2,000 worth of services on account. Date Account Name DebitCredit Oct 18 2000 2000 On October 31, Wolfpack purchased a six-month insurance policy costing $600. The policy period will begin in November. Date Account Name Debit Credit Oct 31 600 600 On October 1, Wolfpack issued shares of common stock to investors in exchange for $45,000 in cash. Date Account Name DebitCredit Oct 1 45000 45000 On October 2, Wolfpack purchased equipment for $8,000 cash. DateAccount Name Debit Credit Oct 2 8000 8000 On October 4, Wolfpack borrowed $6,000 from First City Bank by signing a one-year, 10% note. Date Account Name Debit Credit Oct 4 6000 6000 On October 5, Wolfpack purchased supplies costing $400 on account. DateAccount Name Debit Credit Oct 5 400 400 On October 15, Wolfpack paid $400 for the supplies previously purchased on account on October 5th. Date Account Name DebitCredit Oct 15 400 400 On October 18, Wolfpack performed $2,000 worth of services on account. Date Account Name DebitCredit Oct 18 2000 2000 On October 31, Wolfpack purchased a six-month insurance policy costing $600. The policy period will begin in November. Date Account Name Debit Credit Oct 31 600 600Step by Step Solution
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