Chapter 16, Problem 1EB

Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N).

A. Paid $22,000 cash on bonds payable.

B. Collected $12,600 cash for a note receivable.

C. Declared a dividend to shareholders for $16,000, to be paid in the future.

D. Paid $26,500 to suppliers for purchases on account.

E. Purchased treasury stock for $18,000 cash.