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Sanctuary Fencing Inc. opened on October 1, 2020. The following events and transactions occurred during the month of October Drag and drop to prepare the
Sanctuary Fencing Inc. opened on October 1, 2020. The following events and transactions occurred during the month of October Drag and drop to prepare the necessary journal entries to record the following October transactions (no explanations are required for your journal entries). Note: there may be unusece accounts when the question is complete. October 1 - The company received $12,000 and issued common shares. October 3 - Paid $6,500 for equipment. October 4 - Purchased supplies on account for $300. October 5 - Finished installation services for a customer on account for $7,000. October 6 - Paid $650 for radio advertising to be aired during the next two weeks. October 8 - Paid for the supplies purchased on October 4. October 10 - Obtained a bank loan for $20,000. October 15 - Purchased inventory on account for $12,000. October 17 - Collected $400 owing from a customer. October 31 - Paid wages of $3,000 for the month of October Date Account DEBIT CREDIT Oct 1 12,000 12,000 Oct 3 6,500 6,500 Oct 4 300 300 Oct 5 7,000 7,000 Oct 6 650 650 OCL B
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