Journalize the Following Transactions That Occurred During September

question 141

Essay

Journalize the following transactions that occurred during September. Omit explanations.
Sep. 5 S. Richman invested $4,000 cash and $100 of equipment into his new business.
10 Paid three months' rent in advance, $1,500.
23 Purchased equipment on account, $2,000.
24 Billed client for services rendered, $1,000.

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Definitions:

Subsidizing

The act of providing financial support by the government to lower the cost of producing goods or services, often to encourage production or consumption.

External Benefit

A positive effect or advantage that extends beyond the direct parties involved in a transaction, affecting others who are not directly involved.

Childhood Vaccinations

Immunization shots given to children to protect them from serious diseases by building immunity.

Direct Regulation

involves government interventions that directly restrict or control the activities, decisions, or characteristics of enterprises.