Yuming Ma provides immigration services under the business title YMM Immigration, Inc. During June, her business engaged in the following transactions:
Jun 1 Sold $60,000 shares to Yuming Mato start the business.
3 Paid $500 for the purchase of office supplies.
8 Paid $34,000 cash to purchase land for an office site.
12 Purchased office equipment on account, $3,800.
17 Borrowed $15,000 from the bank. Ma signed a note payable to the bank in the name of the business.
26 Paid $2,500 on account.
30 Revenues earned during the month included $7,000 cash and $9,000 on account.
30 Paid employees’ salaries, $2,800; office rent, $3,600; and utilities, $600.
30 Paid $6,000 of dividends to shareholder, Ma.
Ma’s business uses the following accounts: Cash, Accounts Receivable, Supplies, Land, Office Equipment, Accounts Payable, Notes Payable, Common Shares, Dividends, Service Revenue, Salary Expense, Rent Expense, and Utilities Expense.
Requirements
Journalize each transaction. Omit explanations.