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Prepare the journal entries for the following December transactions: Dec. 1 Purchased supplies on account for $590. Dec. 11 Received $130 in advance from a
Prepare the journal entries for the following December transactions: Dec. 1 Purchased supplies on account for $590. Dec. 11 Received $130 in advance from a customer for repairing of skates. Skates will not be repaired until December 16th. Dec. 15 Issued common shares for $650 cash and $330 of supplies. Dec. 16 Completed the repair of skates brought in on December 11. Dec. 22 Paid $610 of the accounts payable owing at the end of November. Dec. 28 Received $1, 110 from customers in payment of accounts. Dec. 29 paid $980 of dividends. Dec. 29 Paid for salaries of $1, 560, which included the full amount of the salaries payable. Throughout the month of December, received $6, 500 for skate and ski rentals of which 10% were on account
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