TB Problem 2-117 (Algo)

The following transactions occurred at the Daisy King Ice Cream Company.

1. Started business by issuing 10,000 shares of common stock for $24,000.
2. Leased a building for three years at $540 per month and paid six months' rent in advance.
3. Purchased equipment for $5,800, signing a two-year, 12% note.
4. Purchased $2,200 of supplies on account.
5. Recorded cash sales of $1,200 for the first week.
6. Paid weekly salaries, $520.
7. Paid for supplies purchased in item (4).
8. Recorded depreciation on equipment, $80.

Required: Prepare journal entries to record each of the transactions listed above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet Started business by issuing 10,000 shares of common stock for $24,000. Note: Enter debits before credits. General Journal Debit Credit Event 1 Record entry Clear entry View general journal