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Selected transactions for Sunland Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $20,000
Selected transactions for Sunland Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $20,000 cash. 2 Paid $1,600 cash for rent for the month of September. 5 Purchased equipment for $10,800, paying $2,200 in cash and the balanceon account 8 Earned $7,500 in revenue, receiving $1,100 cash and $6,400 on account of services provided. 12 Incurred $400 in advertising expense on account. 20 Paid $2,800 for repairs and maintenance expenses. 25 Paid $5,000 cash on balanceowed for equipment. 27 Incurred and paid income taxes for the month amounting to $700. 30 Declared and paid a $600 cash dividend. Post the transactions to Taccounts. (Postentries in the order presented in the problenz) Cash Accounts Receivable Equipment Accounts Payable Common Shares Dividends Declared Service Revenue Rent Expense Repairs and Maintenance Expense Income Tax Expense Advertising Expense Post the transactions to Taccounts. (Post entries in the order presented in the problenz) Cash 9/1 9/2 9/5 9/8 9/12 9/20 9/25 9/27 9/30 Bal
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