Use Journal Entries to Record the Following Transactions

question 42

Essay

Use journal entries to record the following transactions.
A) Company purchases $10,000 worth of goods on credit.
B) Company signs a lease and pays the first month's rent of $750
C) Company pays $500 for advertising in the local newspaper.
D) Company sells $15,000 worth of goods during the first month; $12,000 for cash and $3,000 on credit.E) Company pays $10,000 for the goods bought in A)
F) Company collects $2,000 of the amount owing from customers.
G) Owner pays herself a $500 dividend from the first month's earnings.

• A) Company purchases $10,000 worth of goods on credit.
• B) Company signs a lease and pays the first month's rent of $750
• C) Company pays $500 for advertising in the local newspaper.
• D) Company sells $15,000 worth of goods during the first month; $12,000 for cash and $3,000 on credit.E) Company pays $10,000 for the goods bought in A)
• F) Company collects $2,000 of the amount owing from customers.
• G) Owner pays herself a $500 dividend from the first month's earnings.

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Definitions:

External Factor

An influence, condition, or variable that originates outside of an organization and can affect its performance and strategies.

Network of Contacts

A system or group of interconnected people that an individual can communicate with, usually for professional or personal advantage.

Statement of Objective

A clear, concise description of the goals or intended outcomes of a project, research, or activity.

Headhunters

Recruiting specialists or agencies that seek out, identify, and approach individuals to fill specific high-level positions within organizations.