Exercise 2-11 Record transactions (LO4)
| March 1 | Issue common stock for $18,000. |
| March 5 | Obtain $8,400 loan from the bank by signing a note. |
| March 10 | Purchase construction equipment for $22,000 cash. |
| March 15 | Purchase advertising for the current month for $1,100 cash. |
| March 22 | Provide construction services for $17,400 on account. |
| March 27 | Receive $12,400 cash on account from March 22 services. |
| March 28 | Pay salaries for the current month of $5,400. |
| Required: |
|
Record
each transaction. Bearcat uses the following accounts: Cash, Accounts
Receivable, Equipment, Notes Payable, Common Stock, Service Revenue,
Advertising Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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The Loan Fund worked extensively with me to help me anticipate some of the issues that my business may face. Not many lenders would go to that length. They’ve been extremely supportive and a great resource.
ReplyDeleteWorking with Mr Pedro helped me develop my business plan, ideas and brand before getting started, so I was prepared to open a successful business when I received my loan from Mr Pedro, a loan officer with a huge heart of honesty.
Contact Mr Pedro on pedroloanss@gmail.com