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Please help me with this homework question. Required: Journalize the following business transactions in proper general journal form. Label each journal entry by the transaction
Please help me with this homework question.
Required: Journalize the following business transactions in proper general journal form. Label each journal entry by the transaction number for that entry. You do not need to provide explanations for the journal entries. 1. Stockholders invested $200,000 cash for the purpose of starting a custom car painting business -- operating as a corporation. 2. Purchased $2,765 of shop supplies on account. 3. Purchased shop equipment for $28,000, by paying $3,000 in cash for a down payment, and by signing a note payable due in one year in the amount of $25,000 to cover the balance of the purchase price. 4. Completed a custom car classic painting job and billed the customer $5,375. 5. Paid $3,600 in cash for the current month's rent on the shop. 6 . Paid $2,765 cash on account, for the shop supplies purchased in 2 above. 7. Received a bill for $900 for advertising during the current month. 8. Paid $3,450 cash for shop employee wages. 9. Paid $1,200 cash dividends to stockholders. 10. Received a check for $5,375 as payment in full for the custom car classic paint job billed in =4 aboveStep by Step Solution
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