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Using the sheet provided below. Make the journal entries for the following transactions that occurred in September. Example: Paid $1,000 for advertising. (a) Issue shares
Using the sheet provided below. Make the journal entries for the following transactions that occurred in September. Example: Paid $1,000 for advertising. (a) Issue shares of stock to investors in exchange for $23,000 cash. (b) Paid $1,200 for rent. (c) Purchased supplies on account for $8,000. (d) Received $12,000 for services that will be completed during the next 2 years. (e) Billed customers $22,000 for services performed. (f) Paid $3,500 for supplies purchased on account in (c). (g) Received $10,250 from customers billed for services performed in the previous month. (h) Paid 2,500 in dividends to shareholders. (i) Purchased equipment for $60,000 with a note. ACCOUNTS DEBIT CREDIT EX: Advertising Expense 1,000 Cash 1,000 (a) (b) (c) (d) (e) (f) (g) (h) (1)
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