Prepare journal entries for the transactions listed in the preceding
Prepare journal entries for the transactions listed in the preceding exercise (omitting explanations).
In Exercise
1. Purchased S3,000 of computer equipment on account.
2. Issued $7,500 of common stock to investors in exchange for cash.
3. Purchased supplies for $300 in cash.
4. Billed customers $25,000 for services rendered.
5. Paid salaries of $3,500 to employees.
6. Paid dividends to stockholders in the amount of $1,000.
7. Received $5,000 cash in payment of services earned and billed in the previous month.
8. Paid cash for the purchase in #1.
9. Borrowed $50,000 from the bank.
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