I need to put this as a journal entriesJuly 1Began business by making a deposit in a company bank account of $40,000, in exchange for 4,000 shares of $10 par value common stock.July 1Paid the premium on a 1-year insurance policy, $4,800.July 1Paid the current month's store rent expense, $3,600.July 6Purchased repair equipment from Paul's Pool Equipment Company, $7,800. Paid $600 down and the balance was placed on account. July 8Purchased repair supplies from Mary's Repair Company on credit, $450.July 10Paid telephone bill, $300.July 11Cash pool service revenue for the first third of July, $2,650.July 18Made payment to Mary's Repair Company, $300.July 20Cash pool service revenue for the second third of July, $4,000.July 31Cash pool service revenue for the last third of July, $2,250.July 31Paid the current month's electric bill, $500.July 31Declared and paid cash dividend of $1,100.

Name: I need to put this as a journal entriesJuly 1Began business by making
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Description: I need to put this as a journal entriesJuly 1Began business by making a deposit in a company bank account of $40,000, in exchange for 4,000 shares of $10 par value common stock.July 1Paid the premium on a 1-year insurance policy, $4,800.July 1Paid th

The journal entries are prepared to keep the record of day to day transactions of the business.

Answered: put this as a journal entries July 1…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 16PA: Prepare journal entries to record the following transactions for the month of July: A. on first day...

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I need to put this as a journal entries

July 1	Began business by making a deposit in a company bank account of $40,000, in exchange for 4,000 shares of $10 par value common stock.
July 1	Paid the premium on a 1-year insurance policy, $4,800.
July 1	Paid the current month's store rent expense, $3,600.
July 6	Purchased repair equipment from Paul's Pool Equipment Company, $7,800. Paid $600 down and the balance was placed on account.
July 8	Purchased repair supplies from Mary's Repair Company on credit, $450.
July 10	Paid telephone bill, $300.
July 11	Cash pool service revenue for the first third of July, $2,650.
July 18	Made payment to Mary's Repair Company, $300.
July 20	Cash pool service revenue for the second third of July, $4,000.
July 31	Cash pool service revenue for the last third of July, $2,250.
July 31	Paid the current month's electric bill, $500.
July 31	Declared and paid cash dividend of $1,100.

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