a. On September 2nd, purchased equipment (in cash) for $15,400 b. On September 5th, purchased inventory on account for $3,200 c. On September 7th, paid employee wages of $24,550 d. On September 22nd, borrowed $15,000 from a bank on a 5-year notes payable e. On September 28th, issued common stock to new stockholders for $35,000 f. On September 30th, paid a $2,550 cash dividend to stockholders 1. Prepare a SEPARATE journal entry for each transaction.

Name: a. On September 2nd, purchased equipment (in cash) for $15,400 b. O
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Description: a. On September 2nd, purchased equipment (in cash) for $15,400 b. On September 5th, purchased inventory on account for $3,200 c. On September 7th, paid employee wages of $24,550 d. On September 22nd, borrowed $15,000 from a bank on a 5-year n

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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a. On September 2nd, purchased equipment (in cash) for $15,400
b. On September 5th, purchased inventory on account for $3,200
c. On September 7th, paid employee wages of $24,550
d. On September 22nd, borrowed $15,000 from a bank on a 5-year notes payable
e. On September 28th, issued common stock to new stockholders for $35,000
f. On September 30th, paid a $2,550 cash dividend to stockholders

1. Prepare a SEPARATE journal entry for each transaction.

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