Journalize the Following Business Transactions in General Journal Form

question 145

Essay

Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.
1. Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation.
2. Purchased $500 of supplies on credit.
3. Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, 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 $250 cash on account for office supplies purchased in transaction 2.
7. Received a bill for $800 for advertising for the current month.
8. Paid $2,500 cash for office salaries.
9. Paid $1,200 cash dividends to stockholders.
10. Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4.

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Definitions:

Expert

An individual possessing a high level of knowledge, skill, or expertise in a particular field or subject matter.

Rewards

Benefits, incentives, or compensation provided to encourage specific behaviors or achievements.

Respected

Held in high esteem or regard by others due to one's qualities or achievements.

Dental Hygiene

The practice of keeping one’s mouth clean and free of disease and other problems by regular brushing and cleaning between the teeth.