Brick Oven Corporation made the following expenditures during the first month of

Question

Brick Oven Corporation made the following expenditures during the first month of operations Attormeys' fees to organize the corporation Purchase of a patent Legal and other fees for transfer of the patent Preopening employee salaries $ 7,700 27,000 1,850 67,000 Total $ 103,550 Required: Record the $103,550 in cash expenditures. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record cash expenditures.

Explanation / Answer

Legal fees expense 7700 Patents 28850 Salaries expense 67000          Cash 103550

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