Transactions for JODY Company for the month of October are presented below.

1. Issued ordinary shares in exchange for $80,000 cash.

2. Purchased Building costing $60,000 for cash.

3. Purchased Equipment costing $90,000 for $50 ,000 cash and the remainder on credit.

4. Purchased supplies on account for $800.

5. Paid $5,000 for a one-year insurance policy.

6. Real estate commissions billed to clients amount to 4,000.

7. Received $4,000 for services previously performed on account.

8. Paid Salary to employees for $4,500.

9. Paid and declared dividends of $1,000.

10. Paid 50,000 cash on balance owed for equipment in transaction 3

Instructions

Journalize each transaction and identify each transaction by number. You may omit journal explanations.