Question

Homework: Chapter 2 Saw Score: 0 of 10 pts 5 of 6 (2 complete) HW Score: 19.33%, 19.33 of 100 E2-21 (book/static) E Question Help In December 2018, the first five transactions of Abling's Lawn Care Company have been posted to the T-accounts. Prepare the journal entries that served as the sources for the five transactions. Include an explanation for each entry. (Click the icon to view the T-accounts.) Prepare each transaction in order according to the reference number shown in the accounts provided. (Record debits first, then credits. Select the explanation on the last line of the journal entry.) Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer 4 parts Check Answer remaining Clear All

Answer 1

No	Account Tittles and Explanations	Debit ($)	Credit ($)
(1)	Cash A/c	57,000
	To Common stock A/c		57,000
	[Issue of common stock]
(2)	Office Supplies A/c
	To Accounts Payable A/c	800
	[Purchase of office supplies on credit]		800
(3)	Building A/c	40,000
	To Cash A/c		40,000
	[Cash Payment for the Building]
(4)	Cash A/c	46,000
	To Notes Payable A/c		46,000
	[Proceeds from the notes payable]
(5)	Equipment A/c	3,800
	To Cash A/c		3,800
	[Purchase of equipment on cash]