(Learning Objective 4: Journalize transactions) Journalize the following transactions. Include dates and a brief explanation for each journal entry.July 1: Issued common stock for $13,000July 5: Performed services on account for $8,000July 9: Purchased office supplies on account for $600July 10: Performed services for cash of $3,100July 12: Received payment in full for services performed on account from July 5July 24: Paid in full for office supplies purchased on July 9July 25: Received and paid monthly electric bill of $450July 30: Signed a note payable to purchase office furniture for $2,500July 31: Paid monthly payroll of $3,100
(Learning Objective 4: Journalize transactions) Journalize the following transactions. Include dates and a brief explanation for each journal entry.July 1: Issued common stock for $13,000July 5: Performed services on account for $8,000July 9: Purchased office supplies on account for $600July 10: Performed services for cash of $3,100July 12: Received payment in full for services performed on account from July 5July 24: Paid in full for office supplies purchased on July 9July 25: Received and paid monthly electric bill of $450July 30: Signed a note payable to purchase office furniture for $2,500July 31: Paid monthly payroll of $3,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(Learning Objective 4: Journalize transactions) Journalize the following transactions. Include dates and a brief explanation for each journal entry.
July 1: Issued common stock for $13,000
July 5: Performed services on account for $8,000
July 9: Purchased office supplies on account for $600
July 10: Performed services for cash of $3,100
July 12: Received payment in full for services performed on account from July 5
July 24: Paid in full for office supplies purchased on July 9
July 25: Received and paid monthly electric bill of $450
July 30: Signed a note payable to purchase office furniture for $2,500
July 31: Paid monthly payroll of $3,100
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