Prepare compound journal entries for each transaction. a. The owner invests $10,000 cash and $7,000 of...

 

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Prepare compound journal entries for each transaction. a. The owner invests $10,000 cash and $7,000 of equipment in the company in exchange for common stock. b. The company acquires $5,500 of supplies by paying $1,200 cash and putting $4,300 on credit (accounts payable). View transaction list Journal entry worksheet 1 2 The owner invests $10,000 cash and $7,000 of equipment in the company in exchange for common stock.. Note: Enter debits before credits. Transaction a. Cash Equipment Common stock General Journal Debit Credit 10,000 7,000 7,000 Record entry Clear entry View general journal Prepare compound journal entries for each transaction. a. The owner invests $10,000 cash and $7,000 of equipment in the company in exchange for common stock. b. The company acquires $5,500 of supplies by paying $1,200 cash and putting $4,300 on credit (accounts payable). View transaction list Journal entry worksheet 1 2 The owner invests $10,000 cash and $7,000 of equipment in the company in exchange for common stock.. Note: Enter debits before credits. Transaction a. Cash Equipment Common stock General Journal Debit Credit 10,000 7,000 7,000 Record entry Clear entry View general journal