Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. Issued stock to investors for $15,800 in cash. Purchased used car for $10,300 cash for use in business. 1. 2. Purchased supplies on account for $320. 3. Billed customers $5,430 for services performed. 4. Paid $200 cash for advertising start of the business. 5. Received $1,870 cash from customers billed in transaction (4). 6. Paid creditor $190 cash on account. Paid dividends of $300 cash to stockholders. 7. 8. Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit No. Account Titles and Explanation Credit 1. 2. 3. 4. 5. 6. 7. 8. 3. 5.
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. Issued stock to investors for $15,800 in cash. Purchased used car for $10,300 cash for use in business. 1. 2. Purchased supplies on account for $320. 3. Billed customers $5,430 for services performed. 4. Paid $200 cash for advertising start of the business. 5. Received $1,870 cash from customers billed in transaction (4). 6. Paid creditor $190 cash on account. Paid dividends of $300 cash to stockholders. 7. 8. Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit No. Account Titles and Explanation Credit 1. 2. 3. 4. 5. 6. 7. 8. 3. 5.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows.
Issued stock to investors for $15,800 in cash.
Purchased used car for $10,300 cash for use in business.
1.
2.
Purchased supplies on account for $320.
3.
Billed customers $5,430 for services performed.
4.
Paid $200 cash for advertising start of the business.
5.
Received $1,870 cash from customers billed in transaction (4).
6.
Paid creditor $190 cash on account.
Paid dividends of $300 cash to stockholders.
7.
8.
Transcribed Image Text:Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Debit
No. Account Titles and Explanation
Credit
1.
2.
3.
4.
5.
6.
7.
8.
3.
5.
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