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Journalize the following transactions for Mercado Company for June 2010, the company's first month of operations. You may omit explanations for the transactions.
1. Purchased equipment on account for $3,000.
2. Billed customers $5,000 for services performed.
3. Made payment of $1,500 on account for equipment purchased earlier in month.
4. Collected $2,900 on customer accounts.
Transforming Resources
Inputs used in the production process that include both raw materials (physical resources) and the effort provided by people (human resources).
First-Line Management
Managers at the lowest level of an organization who directly manage non-managerial employees.
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