Question
PROBLEM 1 (10%) Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. 1.
PROBLEM 1 (10%)
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.
1. Stockholders invest $50,000 cash in the business.
2. Purchased equipment for $75,000, paying $15,000 in cash and giving a note payable for the remainder.
3. Purchased $500 of supplies on credit.
4. Real estate commissions billed to clients amount to $4,000
5. Purchased 2,000 shares of common stock for the treasury at $15 per share
No. |
| Account Titles |
| Debit |
| Credit |
1.
2.
3.
4.
5.
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