Journalize the following transactions for the month of June. Transferred cash from a personal bank account in exchange for stock,$50,000Purchased $8,000 of merchandise inventory by issuing a 90 day, 10%2interest paying note.3 Paid cash for three months advertising in advance, $3,000At the end of June, the following adjustment data were assembled.30 Advertising expired during June is $2,000The unadjusted trial balance indicates Unearned Fees of $4,500.30However, only $500 of the balance remains unearned.

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Description: Journalize the following transactions for the month of June. Transferred cash from a personal bank account in exchange for stock,$50,000Purchased $8,000 of merchandise inventory by issuing a 90 day, 10%2interest paying note.3 Paid cash for three mont

Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

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Business

Accounting

Journalize the following transactions for the month of June

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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