Instructions

Journal

Chart of accounts

Instructions On April 10, a company acquired land in exchange for 2.500 shares of $23 par common stock with a current market price of $70. Required Journalize this transaction. Refer to the Chart of Accounts for exact wording of account titles. Instructions General Journal Journalize this transaction. Refer to the Chart of Accounts for exact wording of account tiles. PAGE 1 OUSNAL DATE DESCRIPTION POST, REF DEBIT CREDIT ctions Chart of Accounts ASSETS 110 Cash 20 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Supplies 51 Prepaid Insurance 181 Land 191 Buildings 192 Accumulated Depreciation-Building 193 Equipment 194 Accumulated Depreciation-Equipment REVENUE pril 10, a c 410 Sales 610 Interest Revenue equired EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Rent Expense 534 Insurance Expense 535 Supplies Expense 536 Orpanizational Expenses 561 Depreciation Expense-Building 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salarios Payable