Following are the transactions of Sustain Company. June 1 T. James, owner, invested $11,000 cash in Sustain Company.
2 The company purchased $4,000 of furniture made from reclaimed wood on credit.
3 The company paid $600 cash for a 12-month insurance policy on the reclaimed furniture.
4 The company billed a customer $3,000 in fees earned from preparing a SASB-compliant sustainability report.
12 The company paid $4,000 cash toward the payable from the June 2 furniture purchase.
20 The company collected $3,000 cash for fees billed on June 4.
21 T. James, owner, invested an additional $10,000 cash in Sustain Company.
30 The company received $5,000 cash from a client for sustainability services for the next 3 months.
Prepare general journal entries for the above transactions
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Journal entry worksheet
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T. James, owner, invested $14,500 cash in Sustain Co. in exchange for its common stock.
Note: Enter debits before credits.
Date General Journal Debit Credit
June 01