Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30.

1. Received $89,000 cash when issuing 8,900 new common shares.
2. Purchased land by paying $4,000 cash and signing a note payable for $8,000 due in three years.
3. Hired a new aesthetician for a salary of $1,900 a month, starting next month.
4. NGS purchased a company car for $27,000 cash (list price of $30,000) to assist in running errands for the business.
5. Bought and received $900 in supplies for the spa on credit.
6. Paid $180 of the amount owed in (e).
7. Nicole sold 100 of her own personal shares to Raea Gooding for $400.

Required:

1. Prepare journal entries for each of the entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Journal entry worksheet 1 2 3 4 5 6 7 > Received $89,000 cash when issuing 8,900 new common shares. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal