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SmartFit Gym Ltd. began operations on January 1, 20X1. Record the following transactions in the general journal. Transactions: Issued 33,000 shares of common stock at

"SmartFit Gym Ltd." began operations on January 1, 20X1. Record the following transactions in the general journal.

Transactions:

  1. Issued 33,000 shares of common stock at $220 per share, receiving cash.
  2. Purchased gym equipment and supplies worth $210,000 on credit from "Fitness Supplies Co."
  3. Sold gym memberships for $410,000 in cash.
  4. Paid $290,000 to "Fitness Supplies Co." for the equipment and supplies purchased.
  5. Acquired exercise machines worth $355,000 in cash.
  6. Disbursed wages totaling $190,000.
  7. Sold gym services worth $370,000 on credit to "Health Retailers."
  8. Received $350,000 from "Health Retailers" for the services provided on credit.
  9. Remitted rent totaling $160,000.
  10. Received a utility bill amounting to $80,000.

Requirement:

Journalize all these transactions into a general journal entry.

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