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15 August, 13:01

June 1 Sheldon Cooper invests $4,000 cash in exchange for shares of common stock in a small welding business. 2 Purchases equipment on account for $1,200. 3 $800 cash is paid to landlord for June rent. 12 Bills P. Leonard $300 after completing welding work done on account.

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  1. 15 August, 14:33
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    Transactions:

    1. June 1 Monthly invests $4,000 cash in exchange for shares of common stock in a small welding business.

    2. June 2 Purchases equipment on account for 1,200.

    3. June 3 $800 cash is paid to landlord for June rent.

    4. June 12 Bills P. Leonard $300 after completing welding work done on account.

    Journal Entries:

    1.

    June 1 Dr. Cr.

    Investment $4,000

    Cash $4,000

    2.

    June 2 Dr. Cr.

    Equipment $1,200

    Account Payable $1,200

    3.

    June 3 Dr. Cr.

    Rent Expense $800

    Cash $800

    4.

    June 12 Dr. Cr.

    P. Leonard (Receivable) $300

    Welding Service Revenue $300
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