Q1- Provide an example of each title here and then record the journal entries (2 Marks).

Following is the first given answer.

1-Providing consulting services receiving cash.

Given answer:

Ali company provides consulting service and receives 1,000 cash.

Cash. 1,000

Consulting Revenue. 1,000

2-Issuing common stocks receiving cash.

3-Purchasing land for cash.

4-Purchasing supplies on credit.

5-Borrowing money from a bank.

6-Paying employees their salaries.