Journalize the Following Business Transactions in General Journal Form

question 75

Essay

Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.
1. The owner, Athena Lu, invests $35,000 in cash in starting a real estate office operating as a sole proprietorship.
2. Purchased $400 of office supplies on credit.
3. Purchased office equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable.
4. Real estate commissions billed to clients amount to $4,000.
5. Paid $700 in cash for the current month's rent.
6. Paid $200 cash on account for office supplies purchased in transaction 2.
7. Received a bill for $600 for advertising for the current month.
8. Paid $2,200 cash for office salaries.
9. Lu withdrew $1,200 from the business for living expenses.
10. Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4.

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Definitions:

Agoraphobia

An anxiety disorder characterized by an irrational fear of being in open or unfamiliar places, leading to avoidance of such situations.

Avoidance

Avoidance refers to a behavior aimed at preventing unpleasant experiences or outcomes.

Panic

A sudden sensation of fear, which can be so intense as to provoke a drastic physical reaction, often without a clear cause.

Specific Phobia

An anxiety disorder marked by an overwhelming and unreasonable dread of a certain object, situation, or activity.