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Record these transactions of the Barton Corporation company by recording the debit and credit entries directly in the T- accounts. Use the date for
Record these transactions of the Barton Corporation company by recording the debit and credit entries directly in the T- accounts. Use the date for each transaction to identify the entries, placing the date in the left-hand cell and the amount in the right-hand cell on the appropriate side of the T-account. Then determine the balance of each account, and write 'Balance' (or 'Bal') next to it, in the left-hand cell on the appropriate side. a. September 1: Bonnie Northrup (a shareholder), received common stock in Barton Corporation, after investing $25,000 cash and $45,000 worth of equipment in Barton Corporation. b. September 4: Furniture was rented by a customer for $1,600 on credit. c. September 7: Barton Corporation bought $2,500 of equipment, using $500 cash and $2,000 on account. d. September 9: The bill for the $1,250 advertising campaign that ran last week was received today and paid. e. September 11: Barton Corporation returned to the supplier $1,500 of equipment discovered to be defective. It was originally purchased on account in transaction (c). f. September 13: Collected $1,100 regarding a credit customer's account. g. September 16: Barton Corporation purchased a two-year insurance policy on buildings for $8,600. h. September 17: Barton Corporation paid $4,500 for equipment purchased today. i. September 19: $1,100 in dividends were declared and paid to the shareholders of the business. j. September 22: Barton Corporation used credit to purchase $1,750 of equipment.
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