Chapter 2, Problem 2.11E

Record transactions (LO2–4)

Bearcat Construction begins operations in March and has the following transactions.

March 1	Issue common stock for $21,000.
March 5	Obtain $9,000 loan from the bank by signing a note.
March 10	Purchase construction equipment for $25,000 cash.
March 15	Purchase advertising for the current month for $1,100 cash.
March 22	Provide construction services for $18,000 on account.
March 27	Receive $13,000 cash on account from March 22 services.
March 28	Pay salaries for the current month of $6,000.

Required:

Record each transaction. Bearcat uses the following accounts: Cash, Accounts Receivable, Equipment, Notes Payable, Common Stock, Service Revenue, Advertising Expense, and Salaries Expense.