George’s Gardening Service was organized on April 3 when the corporation issued 10,000 shares of capital...
George’s Gardening Service was organized on April 3 when the
corporation issued 10,000 shares of capital stock to George Geller
in exchange for $40,000 cash.
* On April 8, the business acquired gardening equipment by paying
cash of $7,000 and signing a $19,000 note payable, due in four
monthly installments of $5,000 each, beginning
on April 28.
* On April 28, George’s Gardening Service 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. You DO NOT need to calculate the balance in the
account – just the date and the debit or credit.
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George’s Gardening Service was organized on April 3 when the
corporation issued 10,000 shares of capital...
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