Journalize the Following Business Transactions in General Journal Form

question 44

Essay

Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction.
1. Barry Cain invested $38,000 cash to start an appliance repair business.
2. Hired an employee to 3. Paid two years' rent in advance, $10,800.
4. Paid the worker's weekly wage.
5. Recorded revenue earned and received for the week, $2,900.

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Definitions:

Anaconda Plan

A Civil War strategy proposed by Union General Winfield Scott to blockade Southern ports and take control of the Mississippi River, essentially squeezing the Confederacy economically.

Contraband Of War

Goods that by law are forbidden to be supplied to a belligerent, especially items that could be used in armed conflict.

Irish Rifles

Firearms or military units associated with Ireland, possibly referring to historical regiments or Irish nationalist forces, depending on context.