Prepare journal entries to record the following transactions for October: 1 2 5 15 21 30...
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Prepare journal entries to record the following transactions for October: 1 2 5 15 21 30 Received $75,000 from investors in exchange for shares of the company. Purchased supplies on account totaling $2,000. Performed services for customers for cash of $5,000. Paid $12,000 the annual insurance policy which provides coverage starting November 1 for the nex year. Paid salaries of $3,500. Paid for the supplies purchased on October 2. Performed services for customers on account for $6,500. Paid rent of $4,800 for October. Received a $2,000 deposit from a customer for work to be performed in November. Prepare journal entries to record the following transactions for October: 1 2 5 15 21 30 Received $75,000 from investors in exchange for shares of the company. Purchased supplies on account totaling $2,000. Performed services for customers for cash of $5,000. Paid $12,000 the annual insurance policy which provides coverage starting November 1 for the nex year. Paid salaries of $3,500. Paid for the supplies purchased on October 2. Performed services for customers on account for $6,500. Paid rent of $4,800 for October. Received a $2,000 deposit from a customer for work to be performed in November.
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Journal Entries Question 1 Date Particulars Debit Credit October Sales of Stock 75000 Common Stock 7... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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