Record the following transactions in the general journal: September 1 Sold common stock for $65,000 in cash.
Question:
Record the following transactions in the general journal:
September 1 Sold common stock for $65,000 in cash.
1 Rent paid for the month, $1,100.
3 Borrowed $10,000 from a bank and signed a promissory note agreeing to repay the $10,000 in one year
plus 10% interest.
3 Purchased $5,500 of cleaning equipment; He paid $3,500 down and the remainder was due within 30 days.
4 Purchased cleaning supplies for $4,300 in cash.
10 Received $2,500 from customers in cash.
21 Customers billed for services, $3,500.
23 Paid $1,500 on account to a cleaning equipment company (see September 3 transaction).
28 Collected $2,300 from clients on account.
29 You received the electricity bill for the month, $85, and you will pay it in October.
September 30 Salaries paid, $1,750.
30 Service station paid for gasoline used during September, $255.
30 Paid dividends, $800.
Date | Description | Publication Reference | Debit | Credit |
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain