The following transactions in March need to be entered in the two-column journal of Ryder Bathrooms. Explanations may be omitted. Mar 1 Borrowed $90,000 cash from the bank by signing a 90-day note 3 4 8 payable Issued an additional 5,000 shares of capital stock in exchange for $40,000 cash Purchased an adjacent vacant lot for use as parking space. The price was $70,000, of which $30,000 was paid in cash; a note payable was issued for the balance 8 Acquired shop equipment from Elite Baths for $5,400 cash Collected an account receivable of $2,900 from a customer, Beekman Art Shoppe 9 Issued a check for $1,060 in full payment of an account payable to Austin Industries, Inc. 33. The journal entry to record the transaction of March 1 is: O A. Debit Cash, Credit Notes Payable for $90,000 B. Debit Cash, Credit Revenue for $90,000 COC. Debit Notes Payable, Credit Cash for $90,000 OD. Debit Revenue, Credit Cash for $90,000 Mar 1 Borrowed $90,000 cash from the bank by signing a 90-day note payable 3 4 8 Issued an additional 5,000 shares of capital stock in exchange for $40,000 cash Purchased an adjacent vacant lot for use as parking space. The price was $70,000, of which $30,000 was paid in cash; a note payable was issued for the balance Acquired shop equipment from Elite Baths for $5,400 cash 8 Collected an account receivable of $2,900 from a customer, 9 Beekman Art Shoppe Issued a check for $1,060 in full payment of an account payable to Austin Industries, Inc. 34. The journal entry to record the transaction of March 3 is: OA. Debit Cash, Credit Capital Stock for $5,000 B. Debit Cash, Credit Capital Stock for $40,000 C. Debit Capital Stock, Credit Cash for $5,000 D. Debit Capital Stock, Credit Cash for $40,000 Mar 1 Borrowed $90,000 cash from the bank by signing a 90-day note payable. 3 8 Issued an additional 5,000 shares of capital stock in exchange for $40,000 cash Purchased an adjacent vacant lot for use as parking space. The price was $70,000, of which $30,000 was paid in cash; a note payable was issued for the balance 8 Acquired shop equipment from Elite Baths for $5,400 cash Collected an account receivable of $2,900 from a customer, Beekman Art Shoppe 9 Issued a check for $1,060 in full payment of an account payable to Austin Industries, Inc. 35. The journal entry to record the transaction of March 4 is: OA. Debit Cash for $30,000, Debit Notes Payable for $40,000, Credit Land for $70,000 OB. Debit Cash for $30,000, Credit Notes Payable for $40,000, Credit Land for $70,000 C. Debit Land for $70,000, Debit Notes Payable for $40,000, Credit Cash for $30,000 D. Debit Land for $70,000, Credit Notes Payable for $40,000, Credit Cash for $30,000 Mar 3 4 8 Borrowed $90,000 cash from the bank by signing a 90-day note payable Issued an additional 5,000 shares of capital stock in exchange for $40,000 cash Purchased an adjacent vacant lot for use as parking space. The price was $70,000, of which $30,000 was paid in cash; a note payable was issued for the balance & Acquired shop equipment from Elite Baths for $5,400 cash Collected an account receivable of $2,900 from a customer, Beekman Art Shoppe. 9 Issued a check for $1,060 in full payment of an account payable to Austin Industries, Inc. 36. The journal entry to record the Elite Baths transaction of March 8 is: O A. Debit Cash, Credit Shop Equipment for $5,400 B. Debit Accounts Payable, Credit Shop Equipment for $5,400 OC. Debit Shop Equipment, Credit Cash for $5,400 D. Debit Shop Equipment, Credit Accounts Payable for $5,400 Mar 1 Borrowed $90,000 cash from the bank by signing a 90-day note payable 3 Issued an additional 5,000 shares of capital stock in exchange for $40,000 cash 4 Purchased an adjacent vacant lot for use as parking space. The price was $70,000, of which $30,000 was paid in cash, a note payable was issued for the balance 8 Acquired shop equipment from Elite Baths for $5,400 cash 8 9 Collected an account receivable of $2,900 from a customer, Beekman Art Shoppe Issued a check for $1,060 in full payment of an account payable to Austin Industries, Inc. 37. The journal entry to record the Beekman Art Shoppe transaction of March 8 is: O A. Debit Cash, Credit Accounts Receivable for $2,900 B. Debit Cash, Credit Revenue for $2,900 OC. Debit Accounts Receivable, Credit Cash for $2,900 COD. Debit Revenue, Credit Cash for $2,900 Mar 1 Borrowed $90,000 cash from the bank by signing a 90-day note payable. 3 4 8 Issued an additional 5,000 shares of capital stock in exchange for $40,000 cash Purchased an adjacent vacant lot for use as parking space. The price was $70,000, of which $30,000 was paid in cash; a note payable was issued for the balance 8 Acquired shop equipment from Elite Baths for $5,400 cash Collected an account receivable of $2,900 from a customer, Beekman Art Shoppe 9 Issued a check for $1,060 in full payment of an account payable to Austin Industries, Inc. 38. The journal entry to record the transaction of March 9 is: OA. Debit Cash, Credit Accounts Payable for $1,060 B. Debit Cash, Credit Supplies for $1,060 C. Debit Accounts Payable, Credit Cash for $1,060 OD. Debit Supplies, Credit Cash for $1,060