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Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Recelved $67,000 cash and a bullding valued at $245,000
Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Recelved $67,000 cash and a bullding valued at $245,000 from the five Investors who organized Jameson Corporation. Each investor recelved 108 shares of $10 par value common stock. b. Ordered store fixtures costing $19,000. c. Borrowed $20,000 cash and signed a note due in two years. d. Purchased $20,000 of equipment, paylng $1,900 In cash and signing a six-month note for the balance. e. Lent $1,700 to an employee who signed a note to repay the loan in three months. f. Recelved and paid for the store fixtures ordered in (b). Required: Prepare journal entrles for each transaction. Note: If no entry is requlred for a transaction/event, select "No journal entry required" In the first account fleld. Journal entry worksheet 3 56 Record the receipt of $67,000 cash and a building valued at $245,000 from five investors who each received 108 shares of $10 par value common stock. Note: Enter debits before credits
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