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Question
journalize the following business transactions in general journal form. identify each transaction by number. you may omit explanations of the transactions.
1)stockholders invest $40,000 in cash in starting a real estate office operating as a corporation.
2)purchased $500 of supplies on credit.
3)purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable.
4)real estate commissions billed to clients amount to $4,000.
5)paid $700 in cash for the current month's rent.
6)paid $250 cash on account for office supplies purchased in transaction 2 .
7)received a bill for $800 for advertising for the current month.
8)paid $2,500 cash for office salaries.
9)paid $1,200 cash dividends to stockholders.
10)received a check for $2,000 from a client in payment on account for commissions billed in transaction 4 .
Answer
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