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In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $9,700 cash for consulting services rendered in January. b. Issued common stock
In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $9,700 cash for consulting services rendered in January. b. Issued common stock to investors for $11,500 cash. c. Purchased $21,500 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $8,450 cash for consulting services to be performed in February. e. Bought and received $1,250 of supplies on account. f. Received utility bill for January for $2,170, due February 15. g. Consulted for customers in January for fees totaling $16,300, due in February. h. Received $16,700 cash for consulting services rendered in December i. Paid $625 toward supplies purchased in (e). Prepare the journal entry for each of the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 > Received $9,700 cash for consulting services rendered in January. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit a Cash Record entry Clear entry View general journal
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