transactions a Issued 2,000 shares of $0.01 par value common stock to investors for cash at $20 per share. b. Borrowed $60,000 from the bank to provide additional funding to begin operations, the note is due in two years. c. Paid $1,500 for the current month's rent of a warehouse and another $1,500 for next month's rent. d. Paid $2,400 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense) e. Purchased furniture and fixtures for the warehouse for $15,000, paying $3,000 cash and the rest on account. The amoum f. Purchased for $2,800 cash The University of Pennsylvania, Notre Dame, The University of Texas at Austin, and Michigan g Placed advertisements on Google for a total of $350 cash h Sold caps totaling $1,700, half of which was charged on account. The cost of the caps sold was $900. (Hint: Make two en i. Made full payment for the furniture and fixtures purchased on account in (o). Received $210 from a customer on account Required: Prepare journal entries for each transaction. Note that transaction (h) will require two entries, one for revenue and one for the rel View transaction list Journal entry worksheet Sm Record $1,700 sale of caps, half of which was charged on account. Note: Enter debits before credits General Journal Debit Transaction h(1) Credit Record entry Clear entry View general journal References eBook & Resources Type here to search ORI d. Paid $2.400 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense) e. Purchased furniture and fixtures for the warehouse for $15,000, paying $3,000 cash and the rest on accountThe f. Purchased for $2,800 cash The University of Pennsylvania, Notre Dame, The University of Texas at Austin, and g. Placed advertisements on Google for a total of $350 cash h. Sold caps totaling $1,700, half of which was charged on account. The cost of the caps sold was $900. (Hint Make 1. Made full payment for the furniture and fixtures purchased on account in (e). | Received $210 from a customer on account. Required: Prepare journal entries for each transaction. Note that transaction (h) will require two entries, one for revenue and one for View transaction list Journal entry worksheet 1 4 5 6 7 8 10 11 > or Record the $900 cost of caps sold. Note: Enter debits before credits General Journal Debit Transaction h(2) Credit Racord entry Clear entry View general journal References eBook & Resources Type here to search ORI E d Paid $2.400 for a one-year fire insurance policy on the warehouse le e. Purchased furniture and fixtures for the warehouse for $15,000, paying $3,000 cash and the rest on account. The Purchased for $2,800 cash The University of Pennsylvania, Notre Dame, The University of Texas at Austin, and g. Placed advertisements on Google for a total of $350 cash n Sold caps totaling S1,700, half of which was charged on account. The cost of the caps sold was $900. (Hint Make 1. Made full payment for the furniture and fixtures purchased on account in (e). Received $210 from a customer on account. Required: Prepare journal entries for each transaction. Note that transaction (h) will require two entries, one for revenue and one for View transaction list Journal entry worksheet
