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The Richie Company reported the following transactions for the current year. The company issues stock in exchange for $40,000 cash Purchased $400 of supplies on
The Richie Company reported the following transactions for the current year.
- The company issues stock in exchange for $40,000 cash
- Purchased $400 of supplies on credit.
- Purchased equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable.
- Real estate commissions billed to clients amount to $4,000.
- Paid $700 in cash for the current month's rent.
- Paid $200 cash on account for supplies purchased in transaction 2.
- Received a bill for $600 for advertising for the current month.
- Paid $2,200 cash for office salaries and wages.
- The company paid dividends of $1,500.
- Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4.
Required:
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions and t-accounts are not required.
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