part A

7 Part A: Prepare in good form the following journal entries: 5 June 1 The company received cash of $500,000 and issued common stock to the shareholders. 2 Purchased supplies on account for $2,000 8 9 Borrowed $21,000 from the bank and signed a long-term note payable@ 8% interest for 4 years to upgrade its payment system 10 Rendered services billed at $8,000 and received cash of $8,000. 12 Billed IU $ 16,500 on account. 15 Employees worked two weeks and were paid salaries of $10,000. 22 Paid amount due for supplies. 30 Paid monthly rent of $500. 30 The Board of Directors declared and paid dividends of $1,000. 15 16 17 Part B: Prepare a trial balance 18 19 Part A: Prepare in good form the following journal entries: Part B: Prepare a 20 Journals & Trial Balance Financial Statements + 9 10 11 12 13 14 - II Type here to search E HD 99. 5 6 7 8 R T