Pg 87 ex 2-1

The company paid 950 to settle the payable created in h.

Debit Accounts payable Credit cash

Bernadette Grechus invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company in exchange for common stock

Debit Cash Debit office Equipment Debit computer equipment Credit common stock

The company received a bill for rent of a computer testing device that was used on a recently completed job. The $580 rent cost must be paid within 30 days.

Debit Equipment rent expense Credit accounts payable

The company paid $1800 cash wages to an assistant

Debit Wages expense Credit cash

*The company completed client services for $10200 on credit

Debit account receivable Credit fees earned

*The company completes $4250 of services for a client. This amount is to be received within 30 days.

Debit account receivable Credit fees earned

The company paid $750 cash for advertisements in the web during April.

Debit advertisement expense Credit cash

The company purchased a portable building with $34500 cash and moved it into the land acquired in b.

Debit building Credit cash

The company collected $5100 cash in partial payment for the client described in i.

Debit cash Credit accounts receivable

*The company provided services to a client and immediately collected $4600 cash.

Debit cash Credit fees Earned

The company purchased $4500 of additional computer equipment by paying $800 cash and signing a long term notes payable for $3700

Debit computer equipment Credit cash Credit long term notes payable

The company paid $6230 cash in dividends

Debit dividends Credit cash

The company purchased land with $22,000 for an office paying $5000 cash and signing a long term note payable for $17000

Debit land Credit cash Credit long term notes payable

The company purchased $950 of additional office equipment on credit

Debit office equipment Credit accounts payable

The company paid $5000 cash for the premium on a two year insurance policy.

Debit prepaid insurance Credit Cash

The company paid $608 cash for a minor maintenance of the company's computer equipment.

Debit repair expense Credit cash

The company paid $1800 cash for wages to an assistant

Debit wages expense Credit cash