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Required information Skip to question [The following information applies to the questions displayed below.] Below are the transactions for Ute Sewing Shop for March, the

Required information

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[The following information applies to the questions displayed below.]

Below are the transactions for Ute Sewing Shop for March, the first month of operations.

March 1 Issue common stock in exchange for cash of $2,400.
March 3 Purchase sewing equipment by signing a note with the local bank, $2,100.
March 5 Pay rent of $540 for March.
March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $740. Martha is not required to pay for the alterations until the work is complete.
March 12 Purchase sewing supplies for $124 on account. This material will be used to provide services to customers.
March 15 Ute delivers altered dresses to Martha and receives $740.
March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $640 from Bob and promises the suits to be completed by March 25.
March 25 Ute delivers 10 altered business suits to Bob.
March 30 Pay utilities of $89 for the current period.
March 31 Pay dividends of $120 to stockholders.

Required: 1. Record each transaction.

image text in transcribed

image text in transcribed

some are correct some are wrong, can't remember which tho

No Date General Journal Debit Credit 1 March 01 Cash 2,400 2 March 03 Equipment 2,100 3 March 05 Rent Expense 540 4 March 07 Accounts Payable 124 5 March 12 Supplies 124 6 March 15 Service Revenue 1,380 7 March 19 Common Stock 2,400 8 March 25 Notes Payable 2,100 9 March 30 Utilities Expense 89 10 March 31 Dividends 120

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