Prepare journal entries, as well as adjusted entries for transactions. With work shown especially for 6A-6B

5. Division 1 purchases 24 month insurance for $48,000 on 08/31

6. (A) Division 2 sold $50,000 of services for cash and had $80,000 of expenses paid in cash

6 (A) Division 2 was sold for cash of $10,000

6 (B) Division 2 is sold. Total net loss was $30,000, Gain on sale was $10,000

7. Division 1 Purchased Bonds for $50,000 cash that was worth $70,000 at year end

8. Division 1 Total Salary expense was $200,000

9. Issued 10,000 shares of common stock for $100,00 cash on 09/01

1. issue 50,000 shares of 1.00 per share for $500,000

2. create Division 1 and 2 (no journal entry)

3. sell $400,000 of Services from Division 1 for cash

4. Division 1 borrows 50,000 cash on 03/01, i = interest, principal are due 1/1/x2