Question

Use the provided text box to answer the following: September transactions from Good Co are listed below. Record the Journal Entries for each transaction. Clearly label each en and omit explanations Sept. 1 Received $25,000 from Mr. Big in exchange for stock 4 Purchased equipment for $15,000, paying $1,500 down in cash and putting the remainder on credit 6. Paid $150 for miscellaneous expenses 7 Purchased $600 of supplies on credit 10 Recorded $7,000 in revenue for services performed on credit 22 Paid $200 on account for the purchase from September 7 25 Received payment of $3,200 from customers on credit 30 Recorded the payment of a $250 dividend. Please use a similar format to the following for each answer. You do not need to indent for credited accounts: DATE DEBIT: ACCOUNT NAME SAMOUNT CREDIT: ACCOUNT NAME SAMOUNT Short Answer Toolbar navigation o This question will be sent to your instructor for grading. < Prev 27 of 34 Next > arch O RI OP 10 3 4 % 5 6 & 7 8

Answer 1

Credit Debit $25,000 $25,000 $15,000 $1,500 [Down payment] $13,500 [Balancing figure --> $15000 - $1500 = $13500] $150 $150 $600 Date General Journal Sept. 1 Cash Common stock Sept. 4 Equipment Cash Accounts payable Sept. 6 Miscellaneous expense Cash Sept. 7 Supplies Accounts payable Sept. 10 Accounts receivable Service revenue Sept. 22 Accounts payable Cash Sept. 25 Cash Accounts receivable Sept. 30 Dividends Cash $600 $7,000 $7,000 $200 $200 $3,200 $3,200 $250 $250