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Journalize and Post Basic Transactions

Question 57

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Journalize and post basic transactions
Geller Landscaping was organized on April 5 when the corporation issued 20,000 shares of capital stock to Larry Geller in exchange for $60,000 cash.
* On April 8,the business acquired gardening equipment by paying cash of $26,000 and signing a $20,000 note payable,due in four monthly installments of $5,000 each,beginning on April 15.
* On April 15,Larry Geller made the first payment on the note payable by writing a check from the business bank account.
Instructions: Journalize these three transactions and post to the ledger accounts. Journalize and post basic transactions Geller Landscaping was organized on April 5 when the corporation issued 20,000 shares of capital stock to Larry Geller in exchange for $60,000 cash. * On April 8,the business acquired gardening equipment by paying cash of $26,000 and signing a $20,000 note payable,due in four monthly installments of $5,000 each,beginning on April 15. * On April 15,Larry Geller made the first payment on the note payable by writing a check from the business bank account. Instructions: Journalize these three transactions and post to the ledger accounts. Journalize and post basic transactions Geller Landscaping was organized on April 5 when the corporation issued 20,000 shares of capital stock to Larry Geller in exchange for $60,000 cash. * On April 8,the business acquired gardening equipment by paying cash of $26,000 and signing a $20,000 note payable,due in four monthly installments of $5,000 each,beginning on April 15. * On April 15,Larry Geller made the first payment on the note payable by writing a check from the business bank account. Instructions: Journalize these three transactions and post to the ledger accounts.

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