90.2K

Verified Solution

Link Copied!

Required information [The following information applies to the questions displayed below.] Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1 : During the month of July, the company had the following activities: a. Issued 2,200 shares of common stock for $220,000 cash. b. Borrowed $40,250 cash from a local bank, payable in two years. c. Bought a building for $187,000; paid $52,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $182,000. e. Purchased supplies for $15,500 on account. Journal entry worksheet Issued 2,200 shares of common stock for $220,000 cash. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Borrowed $40,250 cash from a local bank, payable in two years. Record the transaction. Note: Enter debits before credits. Journal entry worksheet 5 Bought a building for $187,000; paid $52,000 in cash and signed a three-year note for the balance. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Paid cash for equipment that cost $182,000. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Purchased supplies for $15,500 on account. Record the transaction. Note: Enter debits before credits

Answer & Explanation Solved by verified expert

See Answer