The Moon Service Inc. engaged in the following transactions during the month of November 2015: • Nov. 01: Issued 20,000 shares of common stock at $20 per share • Nov. 03: Paid office rent for the month of November $500. • Nov. 06: Purchased office supplies $250. • Nov. 12: Purchased office equipment on account $4,500 • Nov. 16: Purchased business car for $25,000. Paid $10,000 cash and issued a note for the balance. • Nov. 21: Billed clients $24,000 on account. • Nov. 25: Declared dividends $3,000. The amount of dividends will be distributed in December. • Nov. 28: Paid utility bills for the month of November $180. • Nov. 29: Received $20,000 cash from clients billed on November 21. • Nov. 30: Paid salary for the month of November $7,500 Required: Record the above transactions in a general journal.
The Moon Service Inc. engaged in the following transactions during the month of November 2015:
• Nov. 01: Issued 20,000 shares of common stock at $20 per share
• Nov. 03: Paid office rent for the month of November $500.
• Nov. 06: Purchased office supplies $250.
• Nov. 12: Purchased office equipment on account $4,500
• Nov. 16: Purchased business car for $25,000. Paid $10,000 cash and issued a note for the balance.
• Nov. 21: Billed clients $24,000 on account.
• Nov. 25: Declared dividends $3,000. The amount of dividends will be distributed in December.
• Nov. 28: Paid utility bills for the month of November $180.
• Nov. 29: Received $20,000 cash from clients billed on November 21.
• Nov. 30: Paid salary for the month of November $7,500
Required: Record the above transactions in a general journal.
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