Question
Laundry Company, Inc., entered into the following transactions in August: Aug. 1 Received cash for capital stock issued to owners, $ 400,000. 3 Paid rent
Laundry Company, Inc., entered into the following transactions in August:
Aug. 1 Received cash for capital stock issued to owners, $ 400,000.
3 Paid rent for August on a building and laundry equipment rented, $ 3,000.
6 Performed laundry services for $ 2,000 cash.
8 Secured an order from a customer for laundry services of $ 7,000. The services are to be performed next month.
13 Performed laundry services for $ 6,300 on account for various customers.
15 Received and paid a bill for $ 430 for supplies used in operations.
23 Cash collected from customers on account, $ 2,600. 31 Paid $ 2,400 salaries to employees for August.
31 Received the electric and gas bill for August, $ 385, but did not pay it at this time.
31 Paid cash dividend, $ 1,000.
Prepare journal entries for these transactions in the general journal.
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