TechNova Solutions Inc. began operations on January 1, 20X1. Record the following transactions in the general journal.
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Question:
"TechNova Solutions Inc." began operations on January 1, 20X1. Record the following transactions in the general journal.
Transactions:
- Issued 6,000 shares of common stock at $90 per share, receiving cash.
- Purchased software licenses worth $75,000 on credit from "Software Suppliers."
- Sold services for $140,000 in cash.
- Paid $50,000 to "Software Suppliers" for the licenses purchased.
- Acquired office computers worth $95,000 in cash.
- Paid salaries totaling $55,000.
- Provided services worth $110,000 on credit to "Digital Retailers."
- Received $95,000 from "Digital Retailers" for the services provided on credit.
- Paid rent amounting to $30,000.
- Received a utility bill for $15,000.
Requirement:
Journalize all these transactions into a general journal entry.
Posted Date: