Question
Make the following journal entries in good form. 1. On January 1, 2020, Entity A sold common stock for $30,000 to investors. 2. On January
Make the following journal entries in good form.
1. On January 1, 2020, Entity A sold common stock for $30,000 to investors.
2. On January 3, 2020, Entity A performed services for Entity B for $1,500 on account.
3. On January 5, 2020, Entity A performed services for Entity C for $750 and Entity C paid.
4. On January 7, 2020, Entity A purchased a new computer (office equipment) from Best Buy for $500, paying $100 down, the rest on account.
5. On January 20, Entity B paid Entity A in full (see item 2).
6. On January 30, Entity A paid Best Buy for the computer (see item 4).
7. On January 31, Entity A received its utility bill for $150 and paid it.
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