Transactions for the Data Services Company for the month of August are presented below:

1. Stockholders invested $35,000 cash in the business.

2. Purchased equipment costing $16,500 for cash.

3. Purchased land for $40,000, paying $4,000 cash down and signing a note for the balance.

4. Purchased supplies on account for $1,800.

5. Paid $3,600 for a one-year insurance policy.

6. Received $4,300 cash for data services provided.

7. Billed a customer $5,000 for data services provided.

8. Paid wages to employees for $2,650.

9. Paid dividends to stockholders of $600.

10. Received payment in full from customer billed in #7 above.

Instructions

Journalize each transaction, identify each transaction by its number. Omit explanations.

Be sure to prepare the journal entries in good form and proper format.