Question
i need help to prepare journal entries to record the September events described below. Reference each transaction by date. this is due in 1 hr
i need help to prepare journal entries to record the September events described below. Reference each transaction by date. this is due in 1 hr any help would be great!
On September 1, Pat Hopkins established On a Cloud Corporation (OCC) as a provider of cloud computing services. Pat contributed $13,000 for 1,300 shares of OCC. On September 8, OCC borrowed $27,000 from a bank, promising to repay the bank in two years. On September 10, OCC wrote a check for $26,500 to acquire computer equipment. On September 15, OCC received $1,350 of supplies purchased on account and, on September 16, paid $3,000 for September rent. Through September 22, OCC billed its customers for $9,300 of services, of which OCC collected $7,400 in cash. On September 28, OCC paid $390 for Internet and phone service this month. On September 29, OCC paid wages of $4,500 for the month. Finally, on September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $650. This amount will be paid on October 14 through a preauthorized online payment.
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