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Question reads Selected transactions for L. Takemoto, an interior decorating firm, in its first month of...

e oned cash diidend 28 Declared and paid a $616 /270019

Question reads

Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows.

Jan. 2 Invested $18,481 cash in the business in exchange for common stock.
3 Purchased used car for $10,103 cash for use in the business.
9 Purchased supplies on account for $616.
11 Billed customers $2,218 for services performed.
16 Paid $246 cash for advertising.
20 Received $961 cash from customers billed on January 11.
23 Paid creditor $370 cash on balance owed.
28 Declared and paid a $616 cash dividend.


Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Please fill out all boxes and note that the above title states:

Date

Account Titles and Explanation

Debit

Credit

e oned cash diidend 28 Declared and paid a $616 /270019
0 0
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Answer #1

The jounral entries are as follows:

Date Account title & explanations Debit Credit Jan-02Cash 18481 18481 Common stock 10103 Jan-03PPE Car Cash 10103 Jan-09 Mate

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