Yuming Ma provides immigration services under the business title YMM
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.
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