Transactions for Oriole Company for the month of June are presented below Issues

Question

Transactions for Oriole Company for the month of June are presented below Issues common stock to investors in exchange for $5,090 cash. 2 Buys equipment on account for $1,650 3 Pays $880 to landlord for June rent. June 1 12 Bills Wil Wheaton $570 for welding work done Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually, Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit June 1 June 2 June 3 June 12

Explanation / Answer

1) June 1:

Cash Dr 5090

Common Stock Cr 5090

2) June 2:

Equipment Dr 1650

Accounts Payable Cr 1650

3) June 3:

Rent Expense Dr 880

Cash Cr 880

4) June 12:

Accounts Receivable Dr 570

Service Revenue Cr 570

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