Question

Welch & Associates, Inc. completed the following transactions during September 2013, its first month of operations:
Sep 1 Sold $40,000 of shares to Katie Welch to start the business. 3 Purchased supplies on account, $200.
5 Paid cash for a building to use for storage, $32,000.
6 Performed service for customers and received cash, $3,000. 11 Paid on accounts payable, $100.
18 Performed service for customers on account, $2,900.
24 Received cash from a customer on account, $1,500.
30 Paid the following expenses: salary, $650; and rent, $1,100.
Requirement
Using the steps outlined in the five-step transaction analysis, journalize the transactions of Welch & Associates, Inc. List transactions by date.


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  • CreatedJuly 08, 2015
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