please fill in all boxes Folowing are the transactions...

60.1K

Verified Solution

Question

Accounting

please fill in all boxes
image
Folowing are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $30,000 trom a local bank; the loan is due in 9 months. b. Lent $10,000 to an affilater accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per shate and a market price of $5 per share; recelved cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared \$2,000 in cash dividends to stockholders, to be paid in February. Prepare the journal entry to record each of the above transactions for the month of January. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2345 Record the receipt of the bask loan of $30,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students