Record journal entries 1. Paul invested cash 503218 into business 2. Paul bought a building for 400000

Record journal entries

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1. Paul invested cash 503218 into business 2. Paul bought a building for 400000 3. PGS purchases $521000 worth of inventory to sell to customers 4. Paul paid rent $9003 5. Paul sold his first guitar for $523 6. Paul purchased supplies to use around the store $600. 7. Paul earned rent $1110. 8. Sold more inventory on credit $4221 on term 3/10, n/30 9. An amount of $36233 was paid as advance rent for three months. 10. Provided services to its customers and received $283,500 in cash. 11. Received $4,000 as an advance payment from customers. 12. Paid interest 4343 13. Received interest 3003 14. He hired 2 employees when he started his business last month now he paid $5000 salary 15. He paid electricity bill $1000. 1. Paul invested cash 503218 into business 2. Paul bought a building for 400000 3. PGS purchases $521000 worth of inventory to sell to customers 4. Paul paid rent $9003 5. Paul sold his first guitar for $523 6. Paul purchased supplies to use around the store $600. 7. Paul earned rent $1110. 8. Sold more inventory on credit $4221 on term 3/10, n/30 9. An amount of $36233 was paid as advance rent for three months. 10. Provided services to its customers and received $283,500 in cash. 11. Received $4,000 as an advance payment from customers. 12. Paid interest 4343 13. Received interest 3003 14. He hired 2 employees when he started his business last month now he paid $5000 salary 15. He paid electricity bill $1000.

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Lets record the journal entries for the provided transactions 1 Paul invested cash 503218 into the b... View the full answer