Question
record the following journal entries. 1) Jerry invested cash of $28,000, computer equipment of $8,200 and a vehicle valued at $28,000 in the business in
record the following journal entries.
1) Jerry invested cash of $28,000, computer equipment of $8,200 and a vehicle valued at $28,000 in the business in exchange for common stock.
2) The company paid a security deposit of 1,000 to rent an office. The security deposit will be returned at the end of the lease if no damage occurs to the property.
3) The company paid a total of $3,600 rent for October, November and December.
4) The company purchased state of the art document scanning and imaging equipment by paying $9,200 up front and financing the balance of $7,400 with a note payable to the bank.
5) The company purchased a 12 month insurance policy for $4,800. The policy is effective on October 1.
6) The company purchased office supplies and paper for $850 on account
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