Following are the transactions of JonesSpa Corporation, for the month of January a Borrowed $30,000 from a local bank; the loan is due in 9 months. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share; received cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared $2,000 in cash dividends to stockholders, to be paid in February Prepare the journal entry to record each of the above transactions for the month of January. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction fist Journal entry worksheet 5 Record the receipt of the bank loan of $30,000.

Following are the transactions of JonesSpa Corporation, for the month of January a Borrowed $30,000 from a local bank; the loan is due in 9 months. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share; received cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared $2,000 in cash dividends to stockholders, to be paid in February Prepare the journal entry to record each of the above transactions for the month of January. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction fist Journal entry worksheet 5 Record the receipt of the bank loan of $30,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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