Short Answer
Journalise the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.
1. Received $35,000 from shareholders.
2. Purchased equipment for $45,000, paying $15,000 in cash and the remainder is due in 30 days.
3. Paid $3,000 rent for the month.
4. Recorded $12,500 of services provided on account.
5. Paid wages of $7,500.
6. Received $7,000 in cash for services provided.
7. Collected $2,000 from customers on account.
Correct Answer:
Verified
Correct Answer:
Verified
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