Question

Brief Exercise 3-11 Whispering Winds Corp. has the following transactions during August of the current year Aug. 1 Issues shares of common stock to investors in exchange for $10,800. 4 Pays insurance in advance for 3 months, $1,200. 16 Receives $730 from clients for services rendered. 27 Pays the secretary $580 salary Joumalize the transactions (ar no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit . sy

Answer 1

Aug 1

Cash a/c 10800

To Common Stock 10800

Aug 4

Insurance expenses a/c. 1200

Prepaid insurance. 1200

Aug 16

Cash a/c 730

To service revenue 730

Aug 27

Salary a/c 580

To Cash. 580