Spicewood Stables, Inc. was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new Assistant Controller. The following transactions for April are provided for your review.1.Received contributions from investors and issued $330,000 of common stock on April 1.2.Built a barn and other buildings for $165,000. On April 2, the company paid half the amount in cash on April 1 and signed a three-year note payable for the balance.3.Provided $24,900 in animal care services for customers on April 3, all on credit.4.Rented stables to customers who cared for their own animals; received cash of $11,500 on April 4.5.On April 5, received $3,900 cash from a customer to board her horse in May, June, and July (record as Unearned Revenue).6.Purchased hay and feed supplies on account on April 6 for $4,700.7.Paid $2,860 on accounts payable on April 7 for previous purchases.8.Received $1,240 from customers on April 8 on accounts receivable.9.On April 9, prepaid a two-year insurance policy for $5,700. for coverage starting in May.10.On April 28, paid $960 in cash for water utilities incurred in the month.11.Paid $15,800 in wages on April 29 for work done this month.12.Received an electric utility bill on April 30 for $1,940 for usage in April; the bill will be paid next month.1. Prepare the journal entry for each of the above transactions.

1. Received contributions from investors and issued $330,000 of common stock on April 1.

Dr Cash 330,000

    Cr Common stock 330,000

2. Built a barn and other buildings for $165,000. On April 2, the company paid half the amount in cash on April 1 and signed a three-year note payable for the balance.

Dr Barn and Buildings 165,000

    Cr Cash 82,500

    Cr Notes payable 82,500

3. Provided $24,900 in animal care services for customers on April 3, all on credit.

Dr Accounts receivable 24,900

    Cr Service revenue 24,900

4. Rented stables to customers who cared for their own animals; received cash of $11,500 on April 4.

Dr Cash 11,500

    Cr Rent revenue 11,500

5. On April 5, received $3,900 cash from a customer to board her horse in May, June, and July (record as Unearned Revenue).

Dr Cash 3,900

    Cr Unearned revenue 3,900

6. Purchased hay and feed supplies on account on April 6 for $4,700.

Dr Supplies 4,700

    Cr Accounts payable 4,700

7. Paid $2,860 on accounts payable on April 7 for previous purchases.

Dr Accounts payable 2,860

    Cr Cash 2,860

8. Received $1,240 from customers on April 8 on accounts receivable.

Dr Cash 1,240

    Cr Accounts receivable 1,240

9. On April 9, prepaid a two-year insurance policy for $5,700. for coverage starting in May.

Dr Prepaid insurance 5,700

    Cr Cash 5,700

10. On April 28, paid $960 in cash for water utilities incurred in the month.

Dr Utilities expense 960

    Cr Cash 960

11. Paid $15,800 in wages on April 29 for work done this month.

Dr Wages expense 15,800

    Cr Cash 15,800

12. Received an electric utility bill on April 30 for $1,940 for usage in April; the bill will be paid next month.

Dr Utilities expense 1,940

    Cr Accounts payable 1,940

answer; limited pay life;