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Journalize the following business transactions in general journal form. Identify each transaction by number. 1. The company issues stock in exchange for $40,000 cash. 2.
Journalize the following business transactions in general journal form. Identify each transaction by number.
1. | The company issues stock in exchange for $40,000 cash. |
2. | Purchased $400 of supplies on credit. |
3. | Purchased equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. |
4. | Real estate commissions billed to clients amount to $4,000. |
5. | Paid $700 in cash for the current month's rent. |
6. | Paid $200 cash on account for supplies purchased in transaction 2. |
7. | Received a bill for $600 for advertising for the current month. |
8. | Paid $2,200 cash for office salaries and wages. |
9. | The company paid dividends of $1,500. |
10. | Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4. |
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