Given the following transactions for Dumfries Company during the month of October2021. 1. Shareholders invested $200,000 cash in exchange for ordinary shares. 2. Performed services for $30,000 on account. 3. Purchased supplies for $4,000 on account. 4. Paid salaries of $7,800. 5. Received $20,000 cash advance from a customer for services to be performed in November2021. 6. Paid $1,000 cash on account for supplies purchased in transaction 3. Required: Journalize the above business transactions in general journa form.
Given the following transactions for Dumfries Company during the month of October2021. 1. Shareholders invested $200,000 cash in exchange for ordinary shares. 2. Performed services for $30,000 on account. 3. Purchased supplies for $4,000 on account. 4. Paid salaries of $7,800. 5. Received $20,000 cash advance from a customer for services to be performed in November2021. 6. Paid $1,000 cash on account for supplies purchased in transaction 3. Required: Journalize the above business transactions in general journa form.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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in need the answer in the general journal box??
Transcribed Image Text:Given the following transactions for Dumfries Company during the
month of October2021.
1. Shareholders invested $200,000 cash in exchange for ordinary shares.
2. Performed services for $30,000 on account.
3. Purchased supplies for $4,000 on account.
4. Paid salaries of $7,800.
5. Received $20,000 cash advance from a customer for services to be
performed in November2021.
6. Paid $1,000 cash on account for supplies purchased in transaction 3.
Required: Journalize the above business transactions in general journal
form.
Transcribed Image Text:General Journal
Date
Accounts Titles
Debit
Credit
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