Question
Rawlco Communications operates 10 radio stations throughout the West. The following events occurred during September. a. Placed an order for office supplies costing $2,500. Supplier
Rawlco Communications operates 10 radio stations throughout the West. The following events occurred during September. |
a. | Placed an order for office supplies costing $2,500. Supplier intends to deliver later in the month. |
b. | Purchased equipment that cost $30,000; paid $18,000 cash and signed a promissory note to pay $12,000 in one month. |
c. | Negotiated and signed a one-year bank loan, and then deposited $6,000 cash in the companys checking account. |
d. | Hired a new finance manager on the last day of the month. |
e. | Received an investment of $10,000 cash from the companys owners in exchange for issuing common shares. |
f. | Supplies [ordered in (a)] were received, along with a bill for $2,500. |
2 b Purchased equipment that cost $30,000; paid $18,000 cash and signed a promissory note to pay $12,000 in one month. Record the transaction.
3 c Negotiated and signed a one-year bank loan, and then deposited $6,000 cash in the companys checking account. Record the transaction.
4 d
Hired a new finance manager on the last day of the month. Record the transaction.
5 e
Received an investment of $10,000 cash from the companys owners in exchange for issuing common shares. Record the transaction.
6 f Supplies [ordered in (a)] were received, along with a bill for $2,500. Record the transaction.
Journal entry worksheet 2 3 4 5 6 Placed an order for office supplies costing $2,500. Supplier intends to deliver later in the month. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit CreditStep by Step Solution
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