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Selected transactions for Culver, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $16,300 in
Selected transactions for Culver, an interior decorator corporation, in its first month of business, are as follows.
1. | Issued stock to investors for $16,300 in cash. | |
2. | Purchased used car for $10,400 cash for use in business. | |
3. | Purchased supplies on account for $310. | |
4. | Billed customers $5,620 for services performed. | |
5. | Paid $300 cash for advertising at the start of the business. | |
6. | Received $1,460 cash from customers billed in transaction (4). | |
7. | Paid creditor $330 cash on account. | |
8. | Paid dividends of $320 cash to stockholders. |
Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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