Question

Problem #3 A company has the following transactions during June: June 2 Provide services to customers for cash, $4,300 June 8 Purchase office supplies on account, $1,000 June 11 Pay workers' salaries for the current period, $1,400 June 15 Issue additional shares of common stock, $6,000 June 28 Pay one-half of the amount owed for supplies purchased on June 8, $500 Required: Record each transaction.

Answer 1

Date	General Journal	Debit	Credit
June 2	Cash	$4,300
	Service revenue		$4,300
	( To record service revenue)
June 8	Supplies	$1,000
	Accounts payable		$1,000
	( to record purchase of supplies on account)
June 11	Salaries expense	$1,400
	Cash		$1,400
	( to record salary expense)
June 15	Cash	$6,000
	Common stock		$6,000
	( To record issue of common stock)
June 28	Accounts payable	$500
	Cash		$500
	( to record payment of accounts payable)

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