Question
Prepare general journal entries for the above transactions. June 1 T. James, owner, invested $18,000 in cash in Sustain Company in exchange for common stock.
Prepare general journal entries for the above transactions.
2 The company purchased $11,000 worth of furniture made from reclaimed wood on credit.
3 The business paid $2,000 in cash for a 12-month insurance policy on the claimed furniture.
4 The company billed a client $10,000 in fees earned for preparing a sustainability report.
12 The company paid $11,000 in cash from the June 2 furniture purchase account payable.
20 The company collected $10,000 in cash for fees billed on June 4.
21 T.James invested an additional $17,000 in cash in the Sustain Company in exchange for common stock.
30 The company received $12,000 in cash from a customer for sustainability services over the next 3 months
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
24th edition
1259916960, 978-1259916960
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