June 1 T. James, owner, invested $11,000 cash in Sustain Company. June 2 The company purchased $4,000 of furniture made from reclaimed wood on credit. June 3 The company paid $600 cash for a 12-month prepaid insurance policy on the reclaimed furniture. June 4 The company billed a customer $3,000 for sustainability services provided. June 12 The company paid $4,000 cash toward the payable from the June 2 furniture purchase. June 20 The company collected $3,000 cash for services billed on June 4. June 21 T. James invested an additional $10,000 cash in Sustain Company. June 30 The company received $5,000 cash in advance of providing sustainability services to a customer. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet < 1 2 3 Date June 01 Note: Enter debits before credits. 4 5 6 T. James, owner, invested $11,000 cash in Sustain Company. General Journal 7 8 Debit Credit

June 1 T. James, owner, invested $11,000 cash in Sustain Company. June 2 The company purchased $4,000 of furniture made from reclaimed wood on credit. June 3 The company paid $600 cash for a 12-month prepaid insurance policy on the reclaimed furniture. June 4 The company billed a customer $3,000 for sustainability services provided. June 12 The company paid $4,000 cash toward the payable from the June 2 furniture purchase. June 20 The company collected $3,000 cash for services billed on June 4. June 21 T. James invested an additional $10,000 cash in Sustain Company. June 30 The company received $5,000 cash in advance of providing sustainability services to a customer. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet < 1 2 3 Date June 01 Note: Enter debits before credits. 4 5 6 T. James, owner, invested $11,000 cash in Sustain Company. General Journal 7 8 Debit Credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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