hapter 2 Hom × The Are The Tran: httpsii Help Save The following are the transac

Question

hapter 2 Hom × The Are The Tran: httpsii Help Save The following are the transactions of Spotlighter, Inc, for the month of January. a Borrowed $4,540 from a local bank on a note due in six months b. Received $5,230 cash from investors and issued common stock to them. c. Purchased $2,200 in equipment, paying $800 cash and promising the rest on a note due in one year d Paid $900 cash for supplies. e. Bought and received $1,300 of supplies on account. int Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Borrowed $4,540 from a local bank on a note due in six months. Record the 2 of 9 Next

Explanation / Answer

a Cash 4540        Notes Payable (short-term) 4540 b Cash 5230      Common Stock 5230 c Equipment 2200        Cash 800        Notes Payable (short-term) 1400 d Supplies 900        Cash 900 e Supplies 1300       Accounts Payable 1300

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.