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Ivanhoe Ltd. has the following selected transactions: 1. Issued common shares to shareholders in exchange for $5,750. 2. Paid rent in advance for two months,
Ivanhoe Ltd. has the following selected transactions:
1. | Issued common shares to shareholders in exchange for $5,750. | |
2. | Paid rent in advance for two months, $2,415. | |
3. | Paid administrative assistant $575 salary. | |
4. | Billed clients $1,380 for services provided. | |
5. | Received $1,035 in partial payment from clients for services provided in item 4 above. | |
6. | Purchased $575 of supplies on account. | |
7. | Paid supplier amount owing on account, $575. | |
8. | Borrowed $1,150 cash from the bank to purchase equipment. |
Journalize the transactions for Ivanhoe Ltd.
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