In the Journal Provided,prepare Journal Entries Without Explanations for the Following

question 111

Essay

In the journal provided,prepare journal entries without explanations for the following transactions.Write "no entry" if none is needed.
a.Received a $3,000 invoice for this month's rent.Payment will not be made right away.
b.Paid $3,200 for insurance premiums to cover the next six months.
c.A $700 dividend is declared and paid.
d.The rent invoice (in a)is paid.
e.Purchased land for $120,000.The company paid half in cash and issued a promissory note for the other half.

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Definitions:

Prn

An abbreviation for the Latin phrase "pro re nata," meaning "as needed," commonly used in medical prescriptions to indicate that medication should be taken as required.

Qh

An abbreviation commonly used in medical prescriptions, meaning every hour.

Topical

Pertaining to application on a particular area of the skin or body surface for local treatment.

Transdermal

A reiteration, largely pertaining to drug delivery systems that release medication through the skin into the bloodstream.