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Journal Assignment Due November 15, 2020 3:30 PM Closes November 15, 2020 4:00 PM Instructions How would you journalize the following transaction? 1. January 1:
Journal Assignment Due November 15, 2020 3:30 PM Closes November 15, 2020 4:00 PM Instructions How would you "journalize" the following transaction? 1. January 1: Brad invests $100,000 into his new book publishing business. 2. January 3: Brad buys a delivery truck for $20,000. He gives the car dealership $15,000 and takes out a 2-year loan at 6 percent interest per year for the balance. 3. January 3: Brad rents space in a warehouse to do his printing. Beginning in January, the rent is $1200 per month and is due at the beginning of the month. Brad pays for this in cash 4. January 10: Brad buys a printing press for $6,000. He makes a cash payment of $4,000, and takes out a long-term 8-percent loan for $2,000. He also buys supplies for $3,000 (with a cash payment of $1,000 and a short-term loan of $2,000) Hint these are two separate entries 5. January 15. Finally Brad pays his two employees their first half of the month's salary. He pays $3,000 total for the two of them half of the amount will be paid in cash today and the other halt will be paid in two days
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