John hired a new accountant Mr. Lee in his firm, the accountant (Mr. Lee) recorded the below transactions wrongly: Transaction 1. John contributed $50,000 into the business bank account but the accountant debited the dividend and credited the cash account. 2. John purchase office equipment for cash $3000, Mr. Lee recorded this transaction by debited the cash account and credited the bank loan account. 3. John paid $2000 for purchase of furniture, by mistake Mr. Lee recorded it as electricity expense debit and cash credit. 4. John paid the salaries to staff at the end of month, Mr. Lee recorded as salaries expense debited and account payable credited. 5. Mr. Lee recorded drawings of owner for $10,000 wrongly.

REQUIRED:

only journalize