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Post the jounal entries to each transaction On the next pagevprepare journal entries for the following transactions in Januaw. 0 1 2 3 4 5
Post the jounal entries to each transaction
On the next pagevprepare journal entries for the following transactions in Januaw. 0 1 2 3 4 5 6 7 8 9 Date I-Jan 2-Jan 3 -Jan 3-Jan 4-Jan 8-Jan 13 -Jan 13-Jan IS-Jan 23-Jan 25-Jan 28-Jan 31 -Jan 31-Jan 31-Jan Transaction Issued 8,000 share of common stock with a par value of $1 and a fair value of $20 per share. An amount of $24,000 was paid as advance rent for tluee months. Issued $5,000, 10%, 5 year bonds at 98, Paid $60,000 cash on the purchase of equipment costing $80,000. The remaining amount was recognized as a five- ear note payable with interest rate of 9%. Purchased office supplies costing $22,800 on account. Purchased $60,000 of inventory. Sold invento to its customers for $28,500 in cash. The invento originall cost $14,250. Paid the accounts payable on the office supplies purchased on Janua1Y 4. Sold inventory for $54,100 to its customers, The invent01Y originally cost $27,050. The customers paid $32,900 and promised to pay the remainirvamount. Received $15,300 from customers for the invento sold on Januaryr 18. Received $4,000 as an advance payment from customers. Paid wages to its emplpyees for the month of Janual : $9,000. Paid $5,000 as dividends. Received electricity bill of $3,964. Miscellaneous expensepaid during the month totaled $3,470
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