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Required: Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. Stockholders invest $40,000
Required: Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.
- Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation.
- Purchased $500 of supplies on credit.
- Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable.
- Real estate commissions billed to clients amount to $4,000.
- Paid $700 in cash for the current month's rent.
- Paid $250 cash on account for office supplies purchased in transaction 2.
- Received a bill for $800 for advertising for the current month.
- Paid $2,500 cash for office salaries.
- Paid $1,200 cash dividends to stockholders.
- Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4.
Remember: you are doing journal entries for a new business that is a corporation.
Table printed format if possible, thank you.
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