Recording Transactions in General Journal
Enter the Following Transactions in the Two-Column

question 58

Essay

Recording transactions in general journal
Enter the following transactions in the two-column journal of Baumann Bathrooms. Include a brief explanation of the transaction as part of each journal entry.
Mar $\quad$ 1 $\quad$ Borrowed $\$ 90,000$ cahs trom the bank by signing a 90 -day note payable.
$\quad$ $\quad$ 3 $\quad$ Issued an additional 5,000 shares of share capital in exchange for $\$ 40,000$ cash
$\quad$ $\quad$ 4 $\quad$ Purchased an adjacent vacant lot ofr use as parking space. The price was $\$ 70,000$ , of which $\$ 30,000$ was paid in cash; a note payable was issued for the balance.
$\quad$ $\quad$ 8 $\quad$ Acquired shop equipment from Elite Baths for $\$ 5,400$ cash.
$\quad$ $\quad$ 8 $\quad$ Collected an account receivable of $\$ 2,900$ from a customer, Beekman Art Shoppe.
$\quad$ $\quad$ 9 $\quad$ Issued a check for $\$ 1,060$ in full payment of an account payable

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Definitions:

Honest

The quality of being truthful and free from deceit.

Knights of Labor

A 19th-century labor organization in the United States that aimed to protect and promote the interests of workers.

Working Conditions

The environment, terms, and circumstances under which an individual is employed, including hours, physical aspects, legal rights, and responsibilities.

Interpersonal Skills

Abilities that facilitate effective and positive communication and interaction with others, such as empathy, active listening, and conflict resolution.