Question: please can you help ! please journalize all entrys Journalize the following transactions for Caroline Company, Inc using the Chart of Accounts above. Omit journal

please can you help ! please journalize all entrys
please can you help ! please journalize all entrys Journalize the following

Journalize the following transactions for Caroline Company, Inc using the Chart of Accounts above. Omit journal entry memos. DO NOT PUT DOLLAR SIGNS. The first one has been done for you as an example. June 1 Transferred cash from a personal bank account in exchange for stock, $50,000 June 1 Sold 1,000 shares of preferred stock, $50 par, for $55,000 June 1 Purchased $20,000 of merchandise inventory by issuing a 180 day, 12% interest paying note. June 5 Received the Insurance bill of $2,000. Payment is not due until June 30. June 7 Sold Merchandise for cash, $5,000. The costs of the goods sold was $3,000. June 15 Recorded servicing provided to the client on account, $7,500. June 20 Received payment from clients on account, $1,800. June 25 Paid employees $6,000 At the end of June, the following adjustment data were assembled: Accrued 1 month's interest on the note issued on June 1 The unadjusted trial balance indicates supplies of $5,000. The actual amount of supplies on hand is $1,000 Depreciation of the Office Equipment is $500 for the month. GENERAL JOURNAL Page Date Narvin

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!