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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The proportion of the population living in households with income below the official poverty threshold as defined by the United States government.

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