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journalise transactions Acme Corporation provides services and also sells merchandise and had the following transactions for the month of August. 00 w August 1 Issued
journalise transactions
Acme Corporation provides services and also sells merchandise and had the following transactions for the month of August. 00 w August 1 Issued share capital for $40,000 3 Purchased $2,000 of office supplies on account. The office supplies were put into the supply room. 5 Paid $3,000 for a 1-year insurance policy effective the beginning of this month 8 Billed clients $5,000 for services rendered on account. 10 Purchased $10,000 of merchandise inventory on account (2/15, n30) Purchased a company truck for $60,000 paying $5,000 in cash and acquired a loan from the bank for the remaining amount. 15 Sold merchandise for $3,000 on account (terms 1/15, n30) Cost of sale was $800. 16 Paid $2,000 dividend in cash to owner of the company. 20 Paid for the August 10 purchase. 25 Collected the entire amount from the August 15 sale of merchandise. 11Step by Step Solution
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