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Business, 21.02.2020 20:40 angelcjsdfv7139

Diana Mark is the president of ServicePro, Inc., a company that provides temporary employees for not-for-profit companies. ServicePro has been operating for five years; its revenues are increasing with each passing year. You have been hired to help Diana in analyzing the following transactions for the first two weeks of April:April 2 Purchased office supplies for $500 on account. April 5 Billed the local United Way office $3,000 for temporary services provided. April 8 Paid $250 for supplies purchased and recorded on account last period. April 8 Placed an advertisement in the local paper for $400 cash. April 9 Purchased new equipment for the office costing $2,300 cash. April 10 Paid employee wages of $1,200, which were incurred in April. April 11 Received $1,000 on account from the local United Way office billed on April 5.April 12 Purchased land as the site of a future office for $10,000. The land value was appraised as $11,000. Paid $2,000 down and signed a long-term note payable for the balance. April 13 Issued 2,000 additional shares of common stock for $40 per share in anticipation of building a new office. April 14 Billed Family & Children's Services $2,000 for services rendered this month. April 15 Received the April utilities bill for $300 to be paid next month. For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)1.) Record the purchase of office supplies for $500 on account.2). Record the entry for billing the local United Way office $3,000 for temporary services provided. 3). Record the payment of $250 for supplies purchased and recorded on account last period.4). Record the entry for placing an advertisement in the local paper for $400 cash.5). Record the purchase of new equipment for the office costing $2,300 cash.6). Record the payment of employee wages of $1,200, which were incurred in April.7). Record the receipt of $1,000 on account from the local United Way office billed on April 5.8). Record the entry for purchase of land as the site of a future office for $10,000. The land value was appraised as $11,000. Paid $2,000 down and signed a long-term note payable for the balance.9). Record the issuance of 2,000 additional shares of stock for $40 per share in anticipation of building a new office.10). Record the entry for billing Family & Children’s Services $2,000 for services rendered this month.11). Record the receipt of the April utilities bill for $300 to be paid next month.

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