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Record the following transactions using your Quickbooks online company and upload the journal report for the month of December. We are following Paul around for the first year as he starts his guitar store called Paul's Guitar Shop, Inc. Here are the events that take place in December 2021. 1) December -1st - Paul starts the business by investing $10,000 in cash. 2) December 5th - PGS purchases 500 Guitars as inventory on account from a Supplier named Suzan, the cost of each one is $100, the terms of this bill is Net 60, his main goal from buying these Guitars to sell them later for a price of 500$ 3) December 8th – PGS's first rent payment is due (paid) amount : $200 4) December 10th – PGS has a grand opening and makes it first sale. It sells 5 guitars for $2500 that cos $500.( Customer: Shilan) 5) December 13th - 3 Guitars have been stolen from the store, adjust their quantity -

Record the following transactions using your Quickbooks online company and upload the journal report for the month of December. We are following Paul around for the first year as he starts his guitar store called Paul's Guitar Shop, Inc. Here are the events that take place in December 2021. 1) December -1st - Paul starts the business by investing $10,000 in cash. 2) December 5th - PGS purchases 500 Guitars as inventory on account from a Supplier named Suzan, the cost of each one is $100, the terms of this bill is Net 60, his main goal from buying these Guitars to sell them later for a price of 500$ 3) December 8th – PGS's first rent payment is due (paid) amount : $200 4) December 10th – PGS has a grand opening and makes it first sale. It sells 5 guitars for $2500 that cos $500.( Customer: Shilan) 5) December 13th - 3 Guitars have been stolen from the store, adjust their quantity -

FINANCIAL ACCOUNTING
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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Record the following transactions using your Quickbooks online company and upload the journal report for the month of December. We are following Paul around for the first year as he starts his guitar store called Paul's Guitar Shop, Inc. Here are the events that take place in December 2021. 1) December -1st - Paul starts the business by investing $10,000 in cash. 2) December 5th - PGS purchases 500 Guitars as inventory on account from a Supplier named Suzan, the cost of each one is $100, the terms of this bill is Net 60, his main goal from buying these Guitars to sell them later for a price of 500$ 3) December 8th – PGS's first rent payment is due (paid) amount : $200 4) December 10th – PGS has a grand opening and makes it first sale. It sells 5 guitars for $2500 that cost $500.( Customer: Shilan) 5) December 13th - 3 Guitars have been stolen from the store, adjust their quantity - -
Transcribed Image Text:Record the following transactions using your Quickbooks online company and upload the journal report for the month of December. We are following Paul around for the first year as he starts his guitar store called Paul's Guitar Shop, Inc. Here are the events that take place in December 2021. 1) December -1st - Paul starts the business by investing $10,000 in cash. 2) December 5th - PGS purchases 500 Guitars as inventory on account from a Supplier named Suzan, the cost of each one is $100, the terms of this bill is Net 60, his main goal from buying these Guitars to sell them later for a price of 500$ 3) December 8th – PGS's first rent payment is due (paid) amount : $200 4) December 10th – PGS has a grand opening and makes it first sale. It sells 5 guitars for $2500 that cost $500.( Customer: Shilan) 5) December 13th - 3 Guitars have been stolen from the store, adjust their quantity - -
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