Question
Record the following transactions in the general journal of Shards Company. Leave 1 blank row between each Journal Entry. NOTE - Input your entries in
Record the following transactions in the general journal of Shards Company. Leave 1 blank row between each Journal Entry. NOTE - Input your entries in the table below. For the correct solution, you will use the entire space provided and leave 1 blank row between each Journal Entry.
Transaction:
1. On 5/1/2017 Investors invested $40,000 cash and $50,000 equipment in exchange for common stock of Shards Company.
2. On 5/3/2017, the company signed a lease on a building and paid $6,000 cash for 3 months rent in advance.
3. On 5/4/2017, the company bought supplies of $500 on account.
4. On 5/10/2017 the company performed $3,000 services for a client in exchange for cash.
5. On 5/15/2017 the company paid $800 cash for advertising.
6. On 5/18/2017, the company performed services of $8,000 on account.
7. On 5/20/2017, the company paid $500 for the transaction on 5/4/2017.
8. On 5/25/2017, the company paid $3500 cash for salaries.
9. On 5/30/2017, the company received $5,000 for services completed on 5/18/2017.
10. On 5/31/2017, the company paid a $200 dividend to stockholders.
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