Question

Journalize the following transactions by Sarasota Printing Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

1.		Stockholders invest $84,000 cash to start the business.
2.		Purchased three digital copy machines for $400,000, paying $118,000 cash and signing a 5-year, 6% note for the remainder.
3.		Purchased $4,600 paper supplies on credit.
4.		Cash received for photocopy services amounted to $7,300.
5.		Paid $700 cash for radio advertising.
6.		Paid $850 on account for paper supplies purchased in transaction 3.
7.		Dividends of $1,600 were paid to stockholders.
8.		Paid $1,200 cash for rent for the current month.
9.		Received $3,000 cash advance from a customer for future copying.
10.		Billed a customer for $550 for photocopy services completed.

No.	Account Titles and Explanation	Debit	Credit
1.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
2.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
3.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
4.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
5.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
6.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
7.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
8.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
9.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
10.	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

Answer 1

Journal

Date	Account title	Debit	Credit
1	Cash	84,000
	Common stock		84,000
2	Equipment	400,000
	Cash		118,000
	Note payable		282,000
3	Supplies	4,600
	Accounts payable		4,600
4	Cash	7,300
	Service revenue		7,300
5	Advertising expense	700
	Cash		700
6	Accounts payable	850
	Cash		850
7	Dividends	1,600
	Cash		1,600
8	Rent expense	1,200
	Cash		1,200
9	Cash	3,000
	Unearned revenue		3,000
10	Accounts receivable	550
	Service revenue		550

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