FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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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