Question
On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month: Rafael Masey transferred cash from a personal bank
On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month: Rafael Masey transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $28,000. Purchased supplies on account, $1,510. Earned sales commissions, receiving cash, $23,240. Paid rent on office and equipment for the month, $5,110. Paid creditor on account, $560. Paid dividends, $1,370. Paid automobile expenses (including rental charge) for month, $1,420, and miscellaneous expenses, $950. Paid office salaries, $2,970. Determined that the cost of supplies used was $840. Required: Question Content Area 1. Journalize entries for transactions (a) through (i), using the following account titles: Cash, Supplies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense. If an amount box does not require an entry, leave it blank.
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