Geen’s Alternations Shop began business as a corporation in 2009. Several transactions which occurred early in 2009 are described below. Record each transaction in proper journal form, excluding written explanations.
A)
Jan. 23, 2009
Stockholders invested $70,000 in the business and received shares of common stock as evidence of ownership.
B)
Feb. 1, 2009
Rent of $1,600 was paid for the month of February.
C)
Feb. 7, 2009
Equipment with a cost of $3,000 was purchased on credit; payment is due in 30 days.
D)
Feb. 14, 2009
Bills totaling $5,400 were presented to customers for alterations projects completed and delivered; $2,900 was collected immediately and the balance of $2,500 is due within 30 days.
E)
Feb. 18, 2009
Full payment was made for the equipment purchased on Feb. 7th.
F)
Feb. 22, 2009
$1,900 was collected from customers with balances due from Feb. 14th.
G)
Feb. 28, 2009
Employee salaries of $3,300 were paid
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