Framming, Inc. started business in January 2024. The following transactions occured during this first year of business. Requirements: a. Enter each transaction into the Journal. b. Post each transaction to the General Ledger c. Calculate the BALANCE of each account in the General Ledger. 4-Jan Framming, Inc. began operations by issuing commons stock for receipt of $15,000 worth of office furniture and $5,000 cash. 6-Jan Framming, Inc. purchased $2,500 of offices supplies on account. 9-Jan Framming, Inc. provided $1,800 of services and received cash payment. 15-Jan Framming, Inc. purchased a two-year liability insurance policy for $2,800 cash. 16-Jan Framming, Inc. paid $1,200 on account (from the purchase of office supplies). 20-Jan Framming, Inc. provided $4,000 of services. The amount is due in 30 days. 22-Jan Framming, Inc. received $6,600 from a customer for services to be provided over the next 18 months. 30-Jan Framming, Inc. collected $2,500 from customers as partial payments on their accounts. 30-Jan Framming, Inc. paid $1,800 in salaries
Framming, Inc. started business in January 2024. The following transactions occured during this first year of business.
Requirements:
a. Enter each transaction into the Journal.
b.
c. Calculate the BALANCE of each account in the General Ledger.
4-Jan Framming, Inc. began operations by issuing commons stock for receipt of $15,000 worth of office furniture and $5,000 cash.
6-Jan Framming, Inc. purchased $2,500 of offices supplies on account.
9-Jan Framming, Inc. provided $1,800 of services and received cash payment.
15-Jan Framming, Inc. purchased a two-year liability insurance policy for $2,800 cash.
16-Jan Framming, Inc. paid $1,200 on account (from the purchase of office supplies).
20-Jan Framming, Inc. provided $4,000 of services. The amount is due in 30 days.
22-Jan Framming, Inc. received $6,600 from a customer for services to be provided over the next 18 months.
30-Jan Framming, Inc. collected $2,500 from customers as partial payments on their accounts.
30-Jan Framming, Inc. paid $1,800 in salaries
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