Question
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. Stockholders invest $40,000 in
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.
Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation. Stock is issued at par value.
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Purchased $500 of supplies on credit.
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Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable.
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Real estate commissions billed to clients amount to $4,000.
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Paid $700 in cash for the current month's rent.
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Paid $250 cash on account for office supplies purchased in transaction 2.
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Received a bill for $800 for advertising for the current month.
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8. Paid $2,500 cash for office salaries.
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9. Paid $100 interest due on loan.
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10. Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4.
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