write journal entries

Exercise 4-9 (Algo) Write journal entries LO 4-6 The transactions relating to the formation of Blue Company Stores Incorporated, and its first month of operations follow. a. The firm was organized and the stockholders invested cash of $7.500. b. The firm borrowed $5,600 from the bank; a short-term note was signed. c. Display cases and other store equipment costing $1,650 were purchased for cash. The original list price of the equipment was $1,960, but a discount was recelved because the seller was having a sale. d. A store location was rented, and $1,250 was paid for the first month's rent. e. Inventory of $14,700 was purchased; $9,000 cash was paid to the suppliers, and the balance will be paid within 45 days. f. During the first week of operations, merchandise that had cost $3,200 was sold for $6,000 cash. 9. A newspaper ad costing $120 was arranged for; 1 ran during the second week of the store's operations. The ad will be paid for in the next month. h. Additional inventory costing $4,350 was purchased; cash of $1,100 was paid, and the balance is due in 30 days. 1. In the last three weeks of the first month, sales totaled $14,750, of which $9.500 was sold on account. The cost of the goods sold totaled $9,100. j. Employee wages for the month totaled $2,000; these will be pald during the first week of the next month. k. The firm collected a total of $3,200 from the sales on account recorded in transaction i. 1. The firm pald a total of $4,500 of the amount owed to suppliers from transaction e. Required: Prepare the journal entries for each of these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Journal entry worksheet The firm borrowed $5,600 from the bank; a short-term note was signed. Note: Enter debits before credits. Journal entry worksheet Display cases and other store equipment costing $1,650 were purchased for cash. The original list price of the equipment was $1,960, but a discount was received because the seller was having a sale. Note: Entter debits before credits. Journal entry worksheet A store location was rented, and $1,250 was paid for the first month's rent. Note: Enter debits before credits; Journal entry worksheet