Question

Journalize the following transactions:______.

Jan. 2 Stockholders invested $15,000 cash in the business in exchange for common stock. 3 Purchased used car for $8,200 cash for use in the business. 9 Purchased supplies on account for $500. 11 Billed customers $1,800 for services performed. 16 Paid $200 cash for advertising. 20 Received $780 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Declared and paid a $500 cash dividend.
Journal
Journal entries are the basic and the first most step in bookkeeping.

Answer 1

Answer & Explanation:

• Cash ac dr 15000

to Capital ac 15000

• Car ac dr 8200

to Cash ac 8200

• Purchase ac dr 500

to creditor ac 500

• Debtor ac dr 1800

to Sale ac 1800

• Advertisement ac dr 200

to Cash ac 200

• Cash ac dr 780

to Debtor ac 780

• Creditor ac dr 300

to Cash ac 300

• Dividend ac dr 500

to Cash ac 500