Please Write Out The General Journals
Date Description of the Transaction July1 Borrow $35,000.00 from 1st Bank by signing a 24 month note (As an example of how to journalize and post a transaction this transaction has already been entered July 1 July 1 July 1 July 3 July 5 into the General Journal and posted to the General Ledger.) Receive $73,500.00 cash from new investors, and issue $73,500.00 of Common Stock to them. Purchase $44,700.00 of new mowing equipment, paying cash to the mower dealer Pay $500.00 cash for the July truck rental Invoice a new customer $3,340.00 for a completed mowing job - customer will pay in 10 days The Board of Directors declares a cash dividend. The total amount of the dividend is $28,000.00 The Date of Record is set as July 15. The Date of Payment is set as July 31 July 7 Pay the employees $6,500.00 for work performed during the 1st week of July July 10 Complete a mowing job for a new customer customer pays $890.00 cash for the job July 12 Collect $3,500.00 cash from the golf course for special rush mowing job completed on May 31 July 14 Pay the employees $5,000.00 for work performed during the 2nd week of July July 15 Purchase $910.00 of supplies from the mower dealer. The supplies are consumed immediately Lenny's will pay the mower dealer for the supplies in about 2 weeks July 15 Collect $3,340.00 on account. The cash that is received is from the new customer for the job that was completed on July 3 July 17 One of the original mowers purchased in January of 2016 broke down and is repaired by the mower July 19 July 20 July 21 July 23 dealer. The cost of the Mower Repair job is $995.00. Lenny's will pay the mower dealer in 30 days Purchase for cash $31,000.00 of supplies. These supplies will be consumed over the next 12 months Collect $30,000.00 from the property management company for work performed in June Pay the employees $4,850.00 for work performed during the 3rd week of July Receive a $27,500.00 advance payment from the university. The advance payment is for 6 months of work which will be performed from August 1, 2017 to January 31, 2018 July 25 Complete a special mowing job for the golf course. The total price for the mowing job is $5,850.00 The golf course pays $1,000.00 cash on this date and will pay the remainder on August 25 July 27 Complete a mowing job for a new customer customer pays $400.00 cash for the job July 27 Pay $910.00 cash to the mower dealer for the supplies purchased on account on July 15 July 28 Pay the employees $5,600.00 for work performed during the 4th week of July July 31 Invoice the property management company $22,250.00 for July mowing work. The property management company will pay the invoice on the 20th of next month July 31 Pay the cash dividend which was declared on July 5
