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Part 1 : Use the attached Tabular Analysis Chart to record transactions and complete the following Business Transactions: 1 . August 3 rd , Bruce's

Part 1: Use the attached Tabular Analysis Chart to record transactions and complete the following Business Transactions:
1. August 3rd, Bruce's Original T's borrowed $45,000 from the bank. The loan is due in 5 years. The cash was received on Aug 3rd.
2. August 7th, Bruce's Original T's paid $31,000 for a new manufacturing press.
3. August 8th, Bruce's Original T's prepaid rent for 3 months in the amount of $3,600.
4. August 10th, Bruce's Original T's purchased $7,800 in supplies from Lola's graphic shirt design supply on account.
5. August 12th, Bruce's Original T's paid for a billboard on the highway, $1,000 per month.
6. August 13th, Bruces Original Ts designed custom logos for Georges shirts incorporated. Bruce earned $1,800 in cash.
7. August 14th, Bruces Original Ts received $2,500 as payment for consulting services performed by Stans hats and Ts.
8. August 15th, Bruce's Original T's sold $7,200 in graphic Ts to another store on account.
9. August 17th, Bruce's Original T's received a $3,800 payment in advance from Coastal T's for consulting work to be completed in September.
10. August 18th, Bruce's Original T's paid in full for the supplies purchased on account in #4.
11. August 19th, Bruce negotiated a contract with Lexis surf shop. A deposit was made for materials of $2,000. The work will begin in September.
12. August 20th, Bruce's Original T's Collected partial payment of $4,600 for payment of merchandise sold on account to another store in transaction #6.
13. August 25th, Bruce's Original T's sold $2,300 in shirts to a new customer in exchange for cash
14. August27th, Bruce's Original T's paid its employees $4,150 dollars for their bi-weekly payroll. Please note, that the work has already been completed by the employees.
15. August 29th, Bruce's Original T's estimated its monthly bill for $800.00 to United Utility. The actual bill will be sent on Sept. 10.
16. August 31st, Bruce's Original T's counted supplies and its end of month count shows $2,150 in supplies on hand.
17. August 31st, Bruce's Original T's adjusted prepaid rent of $1,200 for the month of August.
18. August 31st, Bruce's Original T's will pay wages of $5,180 to its employees in September for work completed in August.
19. August 31st, Bruce's Original T's sold $35,000 in vacant land @ book value in exchange for cash. Note, do not need to record gain or loss.
20. August 31st, Bruces Original Ts will pay payroll taxes of $95- to the Federal Government in Sept for work completed in August.
21. August 31st, Bruces Original Ts sold 1,000 shares of common stock @ $30 per share in exchange for cash.
Please use tabular chart attached
image text in transcribed

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