sexyb40
Apr 15, 2012, 06:39 PM
Selected transactions for D. Reyes, Inc. an interior decorating firm, in its first month of business, are as follows.
Jan.
2
Invested $10,000 cash in business in exchange for common stock.
3
Purchased used car for $4,000 cash for use in business.
9
Purchased supplies on account for $500.
11
Billed customers $1,800 for services performed.
16
Paid $200 cash for advertising.
20
Received $700 cash from customers billed on January 11.
23
Paid creditor $300 cash on balance owed.
28
Declared and paid a $1,000 cash dividend.
Jan.
2
Invested $10,000 cash in business in exchange for common stock.
3
Purchased used car for $4,000 cash for use in business.
9
Purchased supplies on account for $500.
11
Billed customers $1,800 for services performed.
16
Paid $200 cash for advertising.
20
Received $700 cash from customers billed on January 11.
23
Paid creditor $300 cash on balance owed.
28
Declared and paid a $1,000 cash dividend.