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Summit Solutions Inc. commenced business operations on January 1, 20X1. Record the subsequent transactions in the general journal. Transactions: Issued 24,000 shares of common stock

"Summit Solutions Inc." commenced business operations on January 1, 20X1. Record the subsequent transactions in the general journal.

Transactions:

  1. Issued 24,000 shares of common stock at $175 per share, receiving cash.
  2. Purchased office supplies worth $165,000 on credit from "Office Provisions Co."
  3. Sold consulting services for $320,000 in cash.
  4. Paid $200,000 to "Office Provisions Co." for the supplies purchased.
  5. Acquired computer equipment worth $265,000 in cash.
  6. Disbursed wages totaling $145,000.
  7. Sold services worth $280,000 on credit to "Consultancy Retailers."
  8. Received $260,000 from "Consultancy Retailers" for the services provided on credit.
  9. Remitted rent totaling $115,000.
  10. Received a utility invoice amounting to $58,000.

Requirement:

Journalize all these transactions into a general journal entry.

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