journal entry

Transactions 1) Jefferson purchased $2,000 of inventory on account. 2) To assist with a planned expansion, Jefferson issued an additional 1,000 shares of common stock with a par value of $10 per share. Shares were sold at $20 per share. 1 3) With a portion of the proceeds from the stock issuance, Jefferson purchased land adjacent to their warehouse to expand the warehouse for $8,000 cash. 4) Collected $4,800 in outstanding accounts receivable. 5) Jefferson paid $2,200 to a vendor for inventory previously purchased on credit in December 2020. 6) Jefferson paid $4,000 in wages to its employees, including all amounts owed to employees at December 31, 2020. 7) Jefferson sold inventory on account with a cost of $3,300 for $5,000. 8) On January 20, Jefferson declared a cash dividend of $0.50 per share on the 2,050 shares issued and outstanding. The dividend will be paid to shareholders of record on February 3. Information for adjusting entries as of January 31: 9) Jefferson depreciates the warehouse at $800 per month. 19) Jefferson had $2,000 of supplies remaining at January 31, 2021