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Nathanson Corporation was organized on May 1,2014 . The following events occurred during the first month. a. Received $67,000 cash from the five investors who
Nathanson Corporation was organized on May 1,2014 . The following events occurred during the first month. a. Received $67,000 cash from the five investors who organized Nathanson Corporation. Each investor received 108 shares of $10 par value common stock. b. Ordered store fixtures costing $11,000. c. Borrowed $11,000 cash and signed a note due in two years. d. Purchased $18,000 of equipment, paying $1,500 in cash and signing a six-month note for the balance. e. Lent $1,500 to an employee who signed a note to repay the loan in three months. f. Received and paid for the store fixtures ordered in (b). Required: Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the receipt of $67,000 cash from five investors who each received 108 shares of $10 par value common stock. Note: Enter debits before credits. \begin{tabular}{|c|l|l|l|} Transaction & General Journal & Debit & Credit \\ \hline b. & & & \end{tabular}
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