Kacy Spade, owner, invested $10,750 cash in the company in exchange for common stock. The company purchased office supplies for $312 cash. The company purchased $5,945 of office equipment on credit. The company received $1,268 cash as fees for services provided to a customer. The company paid $5,945 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $2,279 as fees for services provided. The company paid $525 cash for the monthly rent. The company collected $957 cash as partial payment for the account receivable created in transaction f. The company paid a $900 cash dividend to the owner (sole shareholder).
Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense.
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Home » Business » Kacy Spade, owner, invested $10,750 cash in the company in exchange for common stock. The company purchased office supplies for $312 cash. The company purchased $5,945 of office equipment on credit.