Question
Record the following transactions. (If no entry is required for a transaction/event, select No journal entry required in the first account field.) (a) Started business
Record the following transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $20,000. (b) Hired Rebecca as an administrative assistant, promising to pay her $2,700 every two weeks. (c) Rented a building for three years at $590 per month and paid six months' rent in advance. (d) Purchased equipment for $5,100 cash. (e) Purchased $2,100 of supplies on account. (f) Provided services to customers for $7,600 cash. (g) Paid employees salaries, $5,900. (h) Paid for supplies purchased in item (e). (i) Paid $900 for current advertising in a local newspaper. (j) Paid utility bill of $1,900 for the current month.
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