Prepare journal entries for each transaction listed below. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. a. Sales on account were $900 and related cost of goods sold was $500. b. Issued 3,000 shares of $1 par value stock for $50,000 cash. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit
Prepare journal entries for each transaction listed below. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. a. Sales on account were $900 and related cost of goods sold was $500. b. Issued 3,000 shares of $1 par value stock for $50,000 cash. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 7SEA
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
Transcribed Image Text:Prepare journal entries for each transaction listed below.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
a. Sales on account were $900 and related cost of goods sold was $500.
b. Issued 3,000 shares of $1 par value stock for $50,000 cash.
View transaction list
View journal entry worksheet
No
Transaction
General Journal
Debit
Credit
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