Essay
Transactions for Joan Jett Company for the month of October are presented below. Journalize each transaction and identify each transaction by number. You may omit journal explanations.
1. Invested $42000 cash in the business.
2. Purchased land costing $28000 for cash.
3. Purchased equipment costing $18000 for $4000 cash and the remainder on credit.
4. Purchased supplies on account for $800.
5. Paid $1200 for a one-year insurance policy.
6. Received $3500 cash for services performed.
7. Received $4000 for services previously performed on account.
8. Paid wages to employees for $2800.
9. Petty withdrew $2300 cash from the business.
Correct Answer:

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Correct Answer:
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