Recording Transactions in General Journal
Enter the Following Transactions in the Two-Column

Essay

Recording transactions in general journal
Enter the following transactions in the two-column journal of Festive Parties Limited Include a brief explanation of the transaction as part of each journal entry.
June $\quad$ 2 $\quad$ Collected an account receivable of $\$ 860$ from a customer, East Limited
$\quad$ $\quad$ 5 $\quad$ $\quad$ Issued a check for $\$ 430$ in full payment of an account payable to North Limited
$\quad$ $\quad$ 9 $\quad$ $\quad$ Borrowed $\$ 12,000$ cash from the bank by signing a 120 -day note payable.
$\quad$ $\quad$ 12 $\quad$ $\quad$ Issued an additional 3,000 shares of share capital in exchange for $\$ 45,000$ cash.
$\quad$ $\quad$ 15 $\quad$ $\quad$ Purchased equipment for the business. The pricewas $\$ 13,000$ , of which $\$ 3,000$ was paid in cash; a note payable was issued for the balance.
$\quad$ $\quad$ 21 $\quad$ $\quad$ Acquired office furniture from West Company for $\$ 1,100$ on account.