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Required information [The following information applies to the questions displayed below.] Rawlco Communications operates 10 radio stations. The following events occurred during September. a. Placed an order for office supplies costing $3,300. Supplier intends to deliver later in the month. b. Purchased equipment that cost $38,000; paid $15,000 cash and signed a promissory note to pay $23,000 in one month. c. Negotiated and signed a one-year bank loan, and then deposited $7,000 cash in the company's checking account. d. Hired a new finance manager on the last day of the month. e. Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. f. Supplies [ordered in (a)] were received, along with a bill for $3,300. 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Transaction Note: Enter debits before credits. e 3 Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. Record the transaction. Record entry 4 5 General Journal 6 Clear entry Debit Credit View general journal

Required information [The following information applies to the questions displayed below.] Rawlco Communications operates 10 radio stations. The following events occurred during September. a. Placed an order for office supplies costing $3,300. Supplier intends to deliver later in the month. b. Purchased equipment that cost $38,000; paid $15,000 cash and signed a promissory note to pay $23,000 in one month. c. Negotiated and signed a one-year bank loan, and then deposited $7,000 cash in the company's checking account. d. Hired a new finance manager on the last day of the month. e. Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. f. Supplies [ordered in (a)] were received, along with a bill for $3,300. 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Transaction Note: Enter debits before credits. e 3 Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. Record the transaction. Record entry 4 5 General Journal 6 Clear entry Debit Credit View general journal

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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Required information [The following information applies to the questions displayed below.] Rawlco Communications operates 10 radio stations. The following events occurred during September. a. Placed an order for office supplies costing $3,300. Supplier intends to deliver later in the month. b. Purchased equipment that cost $38,000; paid $15,000 cash and signed a promissory note to pay $23,000 in one month. c. Negotiated and signed a one-year bank loan, and then deposited $7,000 cash in the company's checking account. d. Hired a new finance manager on the last day of the month. e. Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. f. Supplies [ordered in (a)] were received, along with a bill for $3,300. 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Transaction Note: Enter debits before credits. e 3 Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. Record the transaction. Record entry 4 5 General Journal 6 Clear entry Debit Credit View general journal
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Rawlco Communications operates 10 radio stations. The following events occurred during September. a. Placed an order for office supplies costing $3,300. Supplier intends to deliver later in the month. b. Purchased equipment that cost $38,000; paid $15,000 cash and signed a promissory note to pay $23,000 in one month. c. Negotiated and signed a one-year bank loan, and then deposited $7,000 cash in the company's checking account. d. Hired a new finance manager on the last day of the month. e. Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. f. Supplies [ordered in (a)] were received, along with a bill for $3,300. 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Transaction Note: Enter debits before credits. e 3 Received an investment of $10,000 cash from the company's owners in exchange for issuing common shares. Record the transaction. Record entry 4 5 General Journal 6 Clear entry Debit Credit View general journal
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