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I need help preparing the general journal BEACON LUMBER, MONTH OF DECEMBER Beacon purchases a general liability insurance policy for $1,200, pav The term of
I need help preparing the general journal
BEACON LUMBER, MONTH OF DECEMBER Beacon purchases a general liability insurance policy for $1,200, pav The term of the policy is one year, from Dec 1, 2009 through Nov 30 2 Cash Dec 1 10, Beacon purchases a forklift for $10,000, paying half in cash and hal alf with as Dec 1 year, 12% note. The forklift is a well made American Machine & Fout product, and it is expected to last for 10 years oundry Dec 1 Beacon purchases ofice equipment for $2,000, paying cash. The equiome has an expected life of 5 years. Beacon purchases 30,000 bd. ft. of lumber from BWLC for $27000 after reaching its credit limit it paid cash for the remaining amount Dec 3 . A gain, On this day Beacon sent a check to pay for December's rent for the office trailer Dec 3 Dec 6 Beacon signs a contract with SCORE Construction to have a warehouse buit on its property. The warehouse will cost $20,000. Beacon will pay SCORE by issuing $10,000 worth of stock, paying $$,000 in cash and issuing a note for the balance Dec6 Beacon pays $300 for three months of advertising on a web site. The adwi run from Dec 15, 2009 through March 15, 2010. The sister of investor #2 purchases the balance of investor #2's Beacon suck for $3,000 (see General Journal, Nov 15). Dec 6 Dec 7 Beacon pays the lawyer's bill received on Nov 4 Dec 15 Mark Peltz, a local sculptor, agrees to rent I acre of lan ahe r Beacon's lot to use as an outdoor studio. He pays $600 for 4 The lease will start on Dec 15Step by Step Solution
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