![Journal entry worksheet < 1 2 3 4 5 Supplies [ordered in (a)] were received, along with a bill for $1,500. Record the transac](http://img.homeworklib.com/questions/5aa16840-788c-11ea-b5b7-bd2969562942.png?x-oss-process=image/resize,w_560)
Homework Answers
| Transaction | General Journal | Debit | Credit |
| a | No Journal Entry Required | ||
| b | Equipment | $20,000 | |
| Cash | $6,000 | ||
| Notes Payable (short-term) | $14,000 | ||
| c | Cash | $5,000 | |
| Notes Payable (short-term) | $5,000 | ||
| d | No Journal Entry Required | ||
| e | Cash | $8,000 | |
| Common Stock | $8,000 | ||
| f | Supplies | $1,500 | |
| Accounts Payable | $1,500 | ||
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occurred during the first month.
Received $71,000 cash from the five investors who organized
Jameson Corporation. Each investor received 109 shares of $10 par
value common stock.
Ordered store fixtures costing $14,000.
Borrowed $11,000 cash and signed a note due in two years.
Purchased $15,000 of equipment, paying $1,400 in cash and
signing a six-month note for the balance.
Lent $2,000 to an employee who signed a note to repay...
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The following events occurred for Johnson Company:
Received investment of cash by organizers and distributed to
them 1,090 shares of $1 par value common stock with a market price
of $25 per share.
Purchased $7,800 of equipment, paying $1,400 in cash and owing
the rest on accounts payable to the manufacturer.
Borrowed $15,000 cash from a bank.
Loaned $1,100 to an employee who signed a note.
Purchased $20,000 of land; paid $4,000 in cash and signed a
note for the...
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