Question

Billy opened Campus Dry-cleaning Service Inc. on September 1, 2020.  During the first month of operations, the following transactions occurred.

Sept.       1 Stockholders invested $20,000 cash in the business to purchase the firm’s common stock.

                2. The company paid $1,000 cash for store rent for September.

               3. Purchased washers and dryers of $25,000, paying $10,000 in cash and signing a $15,000, 6-     

                    month, 12% for a one-year note payable.

               4.Paid $1,200 for one-year accident insurance policy.

             10. Received a bill from Daily News for advertising the opening of the Dry-cleaning company.

             20. Declared and paid a cash dividend to stockholders $700.00.

            30. The company determined that cash receipts for laundry services for the month were $6,200.

Journalize the September Transactions

Answer 1

Date	Description	LF	Amount
Debit	Credit
Sep-01	cash		20,000
	Sharecapital			20,000
	(Stock holders purchased commonstock)
Sep-02	Rent		1,000
	Cash			1,000
	(Paid cash for store rent)
Sep-03	Washers and Dryers		25,000
	Cash			10,000
	Accounts payable			15,000
	(washers and dryers purchased)
Sep-04	Insurance		1,200
	Cash			1,200
	( paid one year accident insurance)
Sep-20	Divident		700
	Cash			700
	(paid divident as cash)
Sep- 30	cash		6,200
	Service revenue			6,200
	(Cash receipt for laundary service)

Transaction of september 10th is not recorded in the above journal. Because the amount of transaction is not given. As per accounting priniciple, we could not able to enter a transaction without amount.

Journal entry for september 10th transaction without amount is

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