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Provide an example of each title here and then record the journal entries. Following the first...

Provide an example of each title here and then record the journal entries. Following the first given answer.

1-Providing consulting services receiving cash.

Given answer:

Aziz company provides consulting service and receives 1,000 cash.

Cash. 1,000

Consulting Revenue. 1,000

2-Investment by an owner.

3-Purchasing equipment for cash.

4-Purchasing supplies on credit.

5-Borrowing money from a bank.

6-Paying investors their shares of dividends.

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Answer #1

1 Aziz company provides consulting service and receives 1,000 cash Journal Entry Debit Credit Cash 1,000 Consulting revenue 1,000 2) Owner invested 10,000 in the company Journal Entry Debit Credit Cash 10,000 Owners Equity 10,000 3) The company purchased 12,000 equipment and paid in cash Journal Entry Debit Credit Equipment 12,000 Cash 12,000 4) The company purchased 6,000 supplies (600 units) on credit. Journal Entry Debit Credit Supplies 6,000 Accounts payable 6,000 5) The company borrowed 20,000 from a bank. Journal Entry Debit Credit Cash 20,000 Borrowings 20,000 6) The Company declared 5,000 cash dividends The Company paid the 5,000 dividends. Journal Entry - Declared Debit Credit Dividends 5,000 Dividend payable Journal Entry- Paid Dividend payable 5,000 Debit Credit 5,000 Cash 5,000

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