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! Required information [The following information applies to the questions displayed below] The following events occurred soon after Pat Hopkins established Ona Cloud Corporation
! Required information [The following information applies to the questions displayed below] The following events occurred soon after Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. a. On September 1, Pat contributed $17,000 for 1,700 shares of OCC. b. On September 8, OCC borrowed $31,000 from a bank, promising to repay the bank in two years. c. On September 10, OCC wrote a check for $21,500 to acquire computer equipment. d. On September 15, OCC received $2,400 of supplies purchased on account. e. On September 16, OCC paid $3,400 for September rent. Through September 22, OCC provided its customers $12,200 of services, of which OCC collected $7,000 in cash. g. On September 28, OCC paid $370 for Internet and phone service this month. h. On September 29, OCC paid wages of $5,700 for the month. On September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $310. This amount will be paid on October 14 through a preauthorized online payment. 2. Prepare journal entries to record the September events described above. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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