RANSACTION ENTRIES & FINANCIAL STATEMENTS

Mrs. Norma J. Baker started a business for Designer Clothes for Hire*. The company is named N.J.E Corp. and began operations on August 1*, 2021. Transactions during the month of August 2021 were as follows:

Aug. 01 N.J.B Corp. issued 5,000 shares of Capital Stock to Mrs. Norma J. Baker in exchange for $10,000 cash.

Aug. 03 Bought a 3D Body Scanner for $5,500, made a $1,500 Cash Down Payment and issued a Note Payable for the remaining balance.

Aug. 06 Collected a $1,590 Account Receivable from a customer for lending a Designer Dress in August 2021.

Aug. 11 Send Invoices to customers $5,500 for Services performed in August.

Aug. 13 Paid $1,430 in salaries.

Aug. 18 Paid $2,200 for the office rent.

Aug.21 Bought gasoline for the truck and on account $197.

Aug.23 Received a $695 invoice from KCLR Radio for ads aired (published via Radio) in August

Aug.28 Paid $498 cash for electricity usage for the month.

Aug.29 Collected $3,000 of the amount billed to customers on August 11"

Aug.30 Declared a $350 Dividend to be paid on August 30th.

Account Titles used by N.J.B Corp. are: Cash

Accounts Receivable 3D Body Scanner Notes Payable Accounts Payable Dividends Payable Capital Stock Note: Not every title might be used. Radio-Ad Expense Dividends Service Revenue Electricity Expense Gasoline Expenses Salaries Expense Rent Expense