Business, 21.09.2020 17:01 roneesmith2016
Selected transactions for Sheffield, an interior decorator corporation, in its first month of business, are as follows.
1. Issued stock to investors for $14,800 in cash.
2. Purchased used car for $10,400 cash for use in business.
3. Purchased supplies on account for $200.
4. Billed customers $4,250 for services performed.
5. Paid $200 cash for advertising at the start of the business.
6. Received $1,480 cash from customers billed in transaction (4).
7. Paid creditor $230 cash on account.
8. Paid dividends of $310 cash to stockholders.
Required:
Journalize the transactions.
Answers: 3
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Selected transactions for Sheffield, an interior decorator corporation, in its first month of busine...
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