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Please help me finish the General Journal and adjusting entries from the infomration above. JULY JOURNAL TRANSACTIONS 1-Jul Issued 8,200 shares of common stock for
Please help me finish the General Journal and adjusting entries from the infomration above.
JULY JOURNAL TRANSACTIONS 1-Jul Issued 8,200 shares of common stock for $11 per share (Refer to Chart of Accounts GL for description of common stock). 1-Jul Signed a two year 14%, $216,000 note payable with Fifth Third Bank. 1-Jul Sold 1500 speakers on account to GM for $112 each, Invoice #2301 1-Jul Purchased 2800 rearview mirrors on credit from Gentex for $45 each. 2-Jul Rented idle warehouse space to a new tenant and received $15,000 for three months rent. (July - October) 2-Jul sold 250 rearview mirrors on account to Honda for $105 each, Invoice #2302 3-Jul Purchased 3450 speakers on credit from Bose for $72 each 3-Jul sold 1300 GPS units on account to Toyota for $65 each, Invoice #2303 4-Jul 60 defective speakers were returned from GM. A credit was issued to the customer. 5-Jul The 60 defective speakers were returned to Bose. 6-Jul paid $650 for equipment repair. Check # 7000 7-Jul Reimbursed employees for entertainment expenses totaling $300, Check #7001 8-Jul Paid June utility bill of $1850. Check # 7002 8-Jul Purchased office supplies from Staples on credit for $700. 11-Jul paid in full for the July 1 purchase from Gentex. Check #7003 11-Jul Received payment from GM on remaining balance for July 1st sale 12-Jul The Board of Directors declared a cash dividend of S0.50 per share for shareholders of record on July 14th, payable on July 20thStep by Step Solution
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